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Thinking Ahead: Why You Need a Business Succession Plan

Family owned businesses form the backbone of our economy. They create 57 percent of the nation’s gross domestic product and 75 percent of all new jobs, and in California they employ 7 million people. That said, their longterm viability is anything but guaranteed. Only one in three family businesses continues successfully into the second generation and only one out of eight survives into the third. The reason these transitions usually […]

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