Transitioning successful family businesses in Cyprus
For the founders of family businesses all over the world, succession has always been an important issue. In Cyprus, where 95% of companies are family-owned and the vast majority were set up during the ‘70s, ‘80s and ‘90s, a well-planned handover by the founders – who, in many cases, are well past retirement age – to second and third generation family members is even more essential if their companies are to continue to thrive. How does one hand over the reins of a successful business? Is it right to maintain a significant family presence in the management of the company? Doesn’t good business sense dictate that there should be a strict policy of meritocracy rather than providing jobs for children and grandchildren? These are just some of the questions that will be discussed and answered during the 17th Leadership and Human Resource Management Conference organised by IMH and PwC Cyprus on November 8, 2018 at the Hilton Park Hotel in Nicosia.
Continue reading at source: Gold News Cyprus
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