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[LISTEN] Family business succession: How to get it right

| The Money Show’s Bruce Whitfield talks to Aurik Business Accelerator founder Pavlo Phitidis about ensuring that the momentum built by the first generation continues with the business.

CAPE TOWN – Family businesses often struggle to survive succession. So, how can you ensure that the momentum built by the first generation continues when the second one takes over?

Aurik Business Accelerator founder Pavlo Phitidis says, globally, about 28% of family businesses manage to succeed from the founder generation to the first generation. This percentage decreases with time.

“They simply focus on maintaining bonds within the family and ensure while doing that they maintain bonds with the rest of the business.”

Listen to the audio above for more.

(Edited by Shimoney Regter)

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