A family firm stands in contrast with an anonymously organised corporate grouping, being subject to hazards of a quite different kind. These often arise on an interpersonal level – it’s all about money, love and power.

Only 32% of family firms manage to make it to the third generation, and only 16% make it to the fourth.

Warning signals that a conflict is brewing in the company or in the family can be seen when family members are by-passed in major decisions or, in the interests of a “quicker” decision, are not informed about the specific transaction.

There is then a more urgent need for action.

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