Can a business still be successful after the owner's death?

[AruneBend]

Yes sure if the person who takes over has a lot of knowledge then I don't see why business can't be successful however if the person who takes over has not enough skills then business can go bankrupt

 

[Heatman]

There are many people who simply fail to manage business after the death of their owner and they end up liquidating the business or selling the business to someone else, as I have seen this happening in many cases.

If your business doesn't have a structure for it to keep going when your dead, it's going to be very difficult for the business to keep up.

 

[cherry123]

Yes, why not it is all about management I believe a business can still survive and even do better after the death of the owner, it is to run it accordingly.

 

[Shavkat]

It depends who is going to continue the business. It cannot be denied that it is still taking the risk of continuing the business if the skills were not transferred to the successor.

 

[cherry123]

Sure, the business continuity depends who is going to continue the business. I know some businesses that were inherited by children that didn't see another year because of bad management

 

[Heatman]

Yes, why not it is all about management I believe a business can still survive and even do better after the death of the owner, it is to run it accordingly.

You are very correct with this statement because the management and the structure of the business is what is going to determine if the business is going to keep function and when the owner dies.

 

[Blessed19]

A business can still be very successful even after the date of the founder of the business as there are many businesses in the world that are still striving and still surviving, being very successful even after the death of the founders of such businesses.

 

[Niyi Briggs]

Most business owners are insecure to delegate power of decision making to an assistant. There is a business that has many branches in my country. You can see how the CEO has reproduced himself in all branch managers while also giving them autonomy to make decisions.

 

[IB D]

I think the best situation is carrying your family members along in your business. Let them understand the basics even though they might not be professionals. My uncle had a lab that closed down after his death because neither the wife nor his siblings knew anything about the business.