In the next two decades, nearly $100 trillion will be transferred from one generation to the next. As such, family businesses need to concentrate on financial planning. But financial planning is more than just day-to-day cash flow management. It’s about sustaining the family and business long-term.
At Family Business USA, this is called sustainable financial planning. This form of planning prepares family businesses to weather market shifts and unexpected challenges. It also helps families preserve wealth and assets across generations.
Where do you start with sustainable financial planning? This article walks through seven must-do strategies.
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