A new business intelligence report published by BIM provides analysis and data-driven insights on key financial trends, market developments and industry dynamics for the seafood sector.
The first edition covers business growth and succession planning including key steps business owners should consider for family business succession.
The report also examines a key question on how to balance personal and family aspirations with the commercial objectives of the enterprise. It details three key options to consider which are selling the business, dividing it up or transferring it entirely to the next generation.
It states that the most successful family business succession transitions are those that result from establishing a partnership with the next generation based on mutual responsibility, respect and commitment.
The full report is available here.