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It happens here in the US too--family businesses that have no one to take over when the owners retire or die. If they haven't prepared a successor--whether a n
by Finnucane 4y ago
It happens here in the US too--family businesses that have no one to take over when the owners retire or die. If they haven't prepared a successor--whether a next-gen family member or employee, few may be willing to step in. So the business will just close.
- iancmceachern 4y agoIt does. It often also happens even when there are people to take over, like in my families case. My dad didn't want me to inherit my parents business, in his words I would be inheriting debt.