Last chance for family businesses seeking succession help

Posted on Jun 8, 2018 :: Insight on Business, Web Exclusive.
Posted by of Insight Publications

Business succession planning can be a complicated process.

This is even more so the case when it involves a family-owned business, with only 30 percent making it to the second generation and just 12 percent making it to the third generation. To make the process go more smoothly, the Wisconsin Family Business Forum will help up to 10 businesses create a written succession plan.

Applications are being accepted for the WFBF program through June 27. Businesses in the I-41 Corridor that need succession planning assistance are invited to apply. Companies selected must play an active role in the creation of their succession plan.

Several businesses are already enrolled in the process, and the next 10 family-owned companies would form the program’s second and final cohort since the WFBF program will be not be available next year.

Located at the University of Wisconsin-Oshkosh, the WFBF was founded in 1996 to foster healthy family businesses.