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What do you do if you own a family business and your children are either not interested or incapable of carrying on?

WRITTEN BY STEVE MARR
TUESDAY, 29 JANUARY 2019

Scripture relates, "Behold, you have grown old, and your sons do not walk in your ways. Now appoint a king over us" (1 Samuel 8:5 NASB).

One of the hardest decisions of a family business owner is what to do if other family members aren't interested and capable. Poor management succeeding you can quickly erode the wealth of a lifetime. When you near retirement, assess carefully the situation. If family is not available, or not capable, name a manager to succeed you, or alternatively, sell the business. Then the work lives on.

In the Word

Scripture relates, "Behold, you have grown old, and your sons do not walk in your ways. Now appoint a king over us" (1 Samuel 8:5 NASB).

Workplace Resources

With all the temptations to give in to greed, cutting corners, and taking advantage of people, every Christian business leader must ask, "Will I be a person of integrity?" Check out Steve Marr's new book "Integrity in the Workplace"

Steve Marr's Blog