More business dynasties would survive if only families learned to talk [FT.com - Mergermarket]
CLOSE BROS GRP UNSP/ADR (CBGPY)
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Source: FT.com - Mergermarket
The Rich Column: More business dynasties would survive if only families learned to talk | Financial Times fail for many reasons. Advisers cite breakdowns in trust, inadequate preparation, or sometimes a lack of shared values. But not, as yet, veganism. This might explain the remarkable longevity of the ’s oldest commercial dynasty, Devon butcher RJ Balson & Son — or, more accurately, 25 Sons since 1515, including one accidentally shot by his adoptive stepson and another who survived Victorian electric shock treatment. But younger enterprises that lack such ingrained tradition often need help to avoid such threats. According to the rather appropriately named Close Brothers bank, “RJ Balson & Son is very much an outlier?.?.?.?just a third of businesses last into the second generation of a family, let alone for over half a millennium”. Fewer still make it beyond the third generation. At this stage, only 10-15 per cent of enterprises remain in family hands, reckons Åsa Björnberg, an orga
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