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Finance

Ease into retirement: Succession management in 5 steps

What should an old businessman do if none of his children is interested in continuing management of a family business? Here are strategies for ideal succession management.

Q: I am 60 years old and looking forward to my retirement. Thirty years ago, I started a grocery, to provide a ready-made business for my children when they grow up. It now has four outlets. However, none of my three children—the ...

by Henry C. Ong  | January 13, 2014 12:30:00
Business Ideas

Father and Son Businesses: A legacy of love, loyalty and pride

A father and son reveal the challenges and profound joys that come with running a family business.

While the rest of us during adolescence were captivated by popular music or the existential confusion that comes with puberty, some kids were then playing a totally different ball game.And not met with much enthusiasm, at that. “I was puzzled and sort ...

by Stephanie F. Esguerra  | June 14, 2013 02:00:00
Startup Tips

How to deal with succession issues

Is it immediately turned over to the first-born son?

Who takes over when a business’s leader dies? The succession question in your business depends a great deal on its form, and there are three: the single proprietorship, the partnership, and the corporation. As its name suggests, a single proprietorship is a ...

by Entrepreneur Staff  | September 26, 2011 04:00:00
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