{"id":2138,"date":"2021-05-21T07:04:19","date_gmt":"2021-05-21T07:04:19","guid":{"rendered":"https:\/\/www.cmgconsulta.com\/?p=2138"},"modified":"2021-12-01T12:57:03","modified_gmt":"2021-12-01T12:57:03","slug":"succession-in-smes-and-family-businesses","status":"publish","type":"post","link":"https:\/\/www.cmgconsulta.com\/succession-in-smes-and-family-businesses\/","title":{"rendered":"Succession in SMEs and Family Businesses"},"content":{"rendered":"
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\"\"Many businesses and SMEs in Malta are family run. Along the years, several have grown from a simple one-person operation initially offering a trade or focused on selling products, to larger more complex group of company-style operation. For many years, these businesses survived applying business rules stemming from family tradition and loyalty. For the owners and their children, it was frequently difficult to separate family from business. <\/span><\/div>\n<\/div>\n
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Along the years, some businesses grew substantially, engaged employees, moved to larger premises, and expanded their operations both locally and internationally. In short, the business became more complex to manage.<\/span><\/div>\n
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“This milestone event in a family business can be a make or break for the business, as well as for the family.<\/em>” CMG Consulta<\/span><\/div>\n<\/blockquote>\n
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When the original founders of the business get to the point of handing over control and decision making of the business some businesses s<\/span>truggle<\/span><\/a>. This milestone event in a family business can be a make or break for the business, as well as for the family. There are a multitude of issues and consequences to be considered here however, experience shows us, that many are overlooked. This article covers the following <\/span>succession planning<\/span><\/a> aspects that need to be considered:<\/span><\/div>\n<\/div>\n