The challenge of succession in family businesses: Why Interim Management is the key
According to the latest report by the Family Business Institute, 67% of family businesses lack a defined succession plan, a concerning figure that jeopardizes the continuity of these organizations, which are a cornerstone of Spain's business landscape. Even more alarming is the fact that only 33% of family businesses make it to the second generation, and a mere 13% survive to the third.
Often, the lack of succession planning is not solely due to technical or financial challenges but also to family dynamics that hinder decision-making. While generational transitions are inevitable, they are often postponed, opening the door to internal conflicts and threatening long-term viability.