Succession planning in minority ethnic family enterprises
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Seaman, C., Welsh, R. & Bent, R. (2013) Succession planning in minority ethnic family enterprises, International Journal of Entrepreneurship and Small Business, vol. 20, pp. 402-419.
The paper presents interview findings derived from a sample of small Scottish businesses. Owners comments form case studies of succession planning and describe associated decision making processes of ownership, transfer and control, inter-generational relations and kinship networks. Timing, cultural knowledge and conflict resolution are seen as keys to successful succession. The units are located in the east of Scotland and are first/second generation South Asian owned enterprises. From this exploratory work, we question whether exiting formal models of support (based upon larger firms) can assist SME owner managers in planning their succession processes, and the paper highlights a need to embed support within government policy initiatives and delivery mechanism more appropriate to the needs of smaller companies.