A study on entrepreneurial Succession planning among family Businesses in coimbatore district

Abstract

For most companies, developing a successful succession plan has a newlinedirect impact on their future revenue streams and growth of business Some of newlinethe questions business owners ask are Am I getting too old to continue with newlinemy company Should I retire early and enjoy my financial success When newlineis a good time to pass the business on to my adult children Can I take a newlinechance on my kids continuing in my successful footsteps Should I look newlineoutside my family for my successor newlineThe factors that could influence or affect the drafting of succession newlineplan where studied under three different dimensions namely the working newlinecapital dimension which deals with the financial aspect of the business the newlinegeneral business dimension which measures the entrepreneur s perception on newlinethe non financial aspects of the business and some primary reasons related to newlinethe personal front of the entrepreneur The study also attempts to identify the newlinecompetencies a successor should possess to take over the business Around newline450 respondents were interviewed using a structured questionnaire newline newline