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Family Business

Almost 50% of the nation’s workforce are employed by a family business, so the ongoing success and vitality of business is crucial to the economy. Being part of a family business can be rewarding and challenging - challenging because of the ways in which business ownership, management and family relationships overlap, creating complexities and emotional issues, particularly around money and control. As the baby boomer generation begins to retire and looks to the next generation to take over the family business, succession or exit plans need to be considered.