Who would you recommend to manage your business when you retire?

Starmix

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• Mar 24, 2024

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• #21

I prefer to hand over my business to the closest member of my family. I also want them to enjoy life with a business. It must be family first, but if not interested then I have to sell it.

 

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Nite

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• Mar 25, 2024

• #22

Family is so important, and it's great you want to keep your business within the family if possible. It's also important for whoever takes over to truly enjoy running the business and be passionate about it. If no family members are interested, selling the business may be the best option to ensure its continued success.

 

Starmix

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• Mar 26, 2024

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• #23

Nite said:

Family is so important, and it's great you want to keep your business within the family if possible. It's also important for whoever takes over to truly enjoy running the business and be passionate about it. If no family members are interested, selling the business may be the best option to ensure its continued success.

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That is true but foremost it must be made sure that the member in the family is serious about doing business or else the busenss turned over to him will sink into bankruptcy.

 

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Stardom22

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• Apr 22, 2024

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For sure my business is still growing and l have never thought of the long term sustainability of the business.

 

Starmix

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• Apr 23, 2024

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• #25

It is better to sell the business if there is no good candidate to inherit it. It is not easy to build the foundation of a business so it is better to sell it.

 

Sanjeev

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• Apr 23, 2024

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I don't have a business but I had a business I would have given it my kids after my retirement.

 

cherry123

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• Apr 23, 2024

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flower said:

I will only recommend someone that has business acumen and that is how I can be rest assured on the business and that is will be well managed after I'm gone.

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That's right because family members might not give you what you want. Just choose one that can actually run the business

 

Shavkat

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• Apr 23, 2024

• #28

I might give it to my immediate family. They are the ones with whom I can trust my business in the future. I wish I could have this profitable business that can help not only me financially but also others as well.

 

Starmix

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• Apr 23, 2024

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• #29

If there is a trustworthy member in a family and also interested to manage business, I will let that family member inherit my business. It should be family first before others.

 

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Fidelia

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• Apr 23, 2024

• #30

As it stands now, I don't have any offspring. I would just groom my sister to take over the business from me when I retire if things stay this way. But I am sure that I would soon have a child that would take over the business when I retire.

 

Starmix

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• Apr 23, 2024

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• #31

If there is no one you can trust for your business when you are in retirement age, you better sell it or hire someone capable if it hurts you to see your business go away.