Indian Family-Owned Businesses and Its Ownership Transitional

Abstract

One of the main issues in the Indian family owned business is the selection of its successor in case of the necessity arises due to the existing owner retires or his or her demise. Many studies suggest that the main factor for a successful transfer of the business ownership is that the family should have a clear plan in transfer of business. So the current study explores the factors of a good succession plan and identifies that family members’ involvement and successor’s competency are the factors which contributes to a smooth transition of a family owned business through a clear and good succession plan.