Why 9 of 10 Family Businesses Fail at Succession

The harsh reality: 9 out of 10 of family businesses will never make it to the third generation. This book investigates which factors are critical for the success of a succession. The study of three family businesses in the third generation from Germany and the UK lead to four best practices. From the results, a new model for succession in family businesses was developed. The qualitative study is one of the first that investigates the performance of successions with an international perspective. This book is recommended for family business researchers, family business owners, advisors and students interested in family business studies.

Daniel Scheffold earned a Master of Arts in General Management and a Master of Science in International Business Management. While working in sales and HR he came in contact with the fascinating world of family businesses. He developed this interest further during his studies. Daniel Scheffold studied in Germany, the USA, South Korea and the United Kingdom. He now lives in Sweden where he works for a medium-sized high-technology company.