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Campden NXG

As revealed in The 2023 North America Family Business Report from Campden Wealth and Brightstar Capital, considering board Next Gens’ experience, insight and opinion is vital to ensure future success.

As revealed in The 2023 North America Family Business Report from Campden Wealth and Brightstar Capital, considering board Next Gens’ experience, insight and opinion is vital to ensure future success.


The fourth-generation entrepreneur and second-generation angel investor talks about his reasons for not applying an ESG mandate, next-gen impetus and a tax on polluting industries.

The fourth-generation entrepreneur and second-generation angel investor talks about his reasons for not applying an ESG mandate, next-gen impetus and a tax on polluting industries.

The Chinese proverb “Wealth never survives three generations” has an equivalent in many cultures and has appeared in writing over centuries. The international notion that the first generation builds wealth, the second spends and otherwise mismanages it, and the third is left with nothing, isn’t just a platitude, though says Wharton finance professor Richard Marston.

The Chinese proverb “Wealth never survives three generations” has an equivalent in many cultures and has appeared in writing over centuries. The international notion that the first generation builds wealth, the second spends and otherwise mismanages it, and the third is left with nothing, isn’t just a platitude, though says Wharton finance professor Richard Marston.


Many younger generation members find themselves in the position of a predestined future in the family business. This personal experience argues that work experience outside the family business is good preparation

Successful business families can provide their children a sense of well-being and privilege, but in doing so are they sheltering them from adversity, or denying the next generation a golden opportunity to be challenged?

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases

IFB

Opening their doors to a group of young UK, Dutch and Swedish family business members in November Bettys & Taylors of Harrogate shared their formula for success. During the one-day visit, moderated by Professor Randel Carlock (INSEAD), they revealed how the owners had made some radical changes in order to ensure long-term success and sustainability for the family and their enterprise.

The road to succession can be fraught with obstacles but few are insurmountable. Success is a journey not a destination

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