Future-Proofing Your Family Business: The Essentials of Succession Planning
For India’s ultra-high-net-worth individuals (UHNIs), family businesses are not just enterprises—they are legacies. Yet, many face the challenge of ensuring these legacies endure across generations. Effective succession planning is the key. 1. Begin with Governance Establishing a robust governance framework is foundational. This includes creating a family constitution, setting up family councils, and appointing independent …
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