Commentary #5 on Professionalizing the Business Family: A research report sponsored by the FFI 2086 Society
This week, we are pleased to continue the series of commentaries on the 2086 Society sponsored research “Professionalizing the Business Family: The Five Pillars of Competent, Committed and Sustainable Ownership.”
Expanding the Three-Circle Model to Include Employees When Evaluating Ownership Succession Alternatives
When family business owners are evaluating non-family ownership succession options, often their advisers may suggest two primary options; selling the business to a “strategic buyer” or a “financial buyer.” However, this week’s edition presents an alternative option – selling the business to the employees, a “friendly buyer,” through an ESOP. Thank you to this week’s contributor, Dan Bayston, for sharing his analysis of ESOPs and the role they can play in a non-family ownership succession plan.