By Henry Hutcheson, reporter Raleigh News & Observer. This blog post originally appeared in the 5/13/12 News & Observer
As a consultant to family businesses, my central goal is to bring about a smooth succession from a business, ownership and family perspective. Given that a majority of family businesses do not survive from one generation to the next, it can be complex. Two weeks ago I had the opportunity to witness perhaps the most effective method of bringing about successful succession for a family business: the Family Enterprise Center program at the Kenan-Flagler business school at UNC-Chapel Hill.
Most university-based programs focus on forming an educational and networking hub among local family businesses. The value of these programs is unquestioned considering they are found at universities around the world. However, the program at UNC is different: It focuses exclusively on educating and training the next generation family business member through its family business classes as a part of its regular degree programs.
…..Center director Cooper Biersach said, “the Center has now built up such a strong family business program that applicants are choosing UNC over other schools in part because of the program.”
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