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Transitioning to the Next Generation is Topic of Family Business Event May 14

By Lori Wright, Media Relations
May 7, 2008

The UNH Center for Family Business will discuss how family businesses transition from an older to a younger generation of owners at its next event Wednesday, May 14.

“What the Younger Generation Needs to Do to Prepare to Takeover and How the Senior Generation Can Help” will be held at New Hampshire Distributors, 65 Regional Drive, Concord. The program begins at 8 a.m. and includes a full buffet breakfast and a networking lunch.

“Statistics have shown that less than two-thirds of family businesses make the successful transfer to the second generation, and making a successful transfer gets harder with each succeeding generation. An experienced panel of advisors along with family business members who have made the transition will provide information to help companies avoid

critical mistakes,” said Barbara Draper, director of the Center for Family Business.

The presentation will provide information on how to prepare the next generation for leadership and ownership of the family business, including:

Review the steps and techniques the younger generation and current owners should be going through now to prepare.
Learn how both generations can use advisors and other tools that are available.
Hear how important it is to make your lending institutions comfortable with the transition and the value of using an outside board of advisors to work with your family.
Learn from other family members and experienced advisors how the transition can be successful and not make your business another negative statistic.

There is no charge for members. There is a special one-time, nonmember registration fee of $99 per person or $250 per family. For more information contact Barbara Draper at barbara.draper@unh.edu or 2-1107.

The center, under the Whittemore School of Business and Economics and the Graduate School, is sponsored by Mass Mutual Financial Group, Thomas Davidow & Assoc., Baker Newman & Noyes, Pierce Atwood, MPI Management Planning, Inc., and Ocean Bank. It is a membership program to provide owners and managers of entrepreneurial businesses with an opportunity to exchange ideas and information and to discuss business challenges and solutions.


 

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