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Identifying Industry-Specific Barriers to Inheritance in Small Family Businesses
- Article from:
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Family Business Review
- Article date:
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September 1, 2004
- Author:
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;
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Copyright informationCopyright Family Firm Institute, Inc. Sep 2004. Provided by ProQuest LLC. (Hide copyright information)
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This article explores generic and industry-specific barriers to inheritance among family businesses within the tourism and hospitality industry. Data from comparable surveys of owners of tourism and hospitality businesses in Denmark and Canada reveal a very low rate of inheritance and a number of industry-specific barriers, including those related to location (e.g., remoteness and small-town settings result in out-migration by children who do not share their parents' lifestyle goals); nature of the work (long hours, high contact with customers, and hands-on labor make the business unappealing); viability of the business (seasonality of demand, taxes, or inseparability of business and family ...
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