keep a family business
Whether to sell or keep a family business is a complicated decision, often based on the needs and interests of key players in the family business system. The decision to sell or keep a business typically requires a dialogue among owners, business leaders, board members, and family members. To make the process as smooth as possible, it is helpful to understand these factors in relation to the likely sales price. A low or high sales price can drastically affect the decisions of family members. Therefore, experts recommend consulting a qualified, independent advisor to determine the likely sales price. The benefits of owning a business far outweigh the costs. But, it may be better to avoid selling the company until the benefits outweigh the costs. If there are family members who don’t wish to run the company, the alternative is to hire outside managers. It is important to remember that selling family business can take six months or more, so you should start planning in three yea