Tag Archives: Succession planning

Family Businesses Are Now Less Likely to be Passed on to the Next Generation

The most surprising result of the survey is that among family-owned businesses contemplating a transfer of ownership within the next five years, only about half of the owners plan to pass the business on to the next generation of the family. This is down from 74 percent two years ago and is the lowest percentage in 17 years. Continue reading

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Tommy Fulton, a Survivor – and Prospering

Tommy Fulton of Mobile, Alabama is enjoying life these days. In fact, he’s having a ball. Not too long ago, Fulton was embattled. As the third generation president of a family firm, he was forced into a bitter six-year battle with a minority shareholder for control of the business. It didn’t help his cause in the local courts that the minority shareholder was then-Congressman Sonny Callahan. Continue reading

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