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What family-owned businesses need to know about succession planning

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Family-owned home furnishings businesses may not fully resemble HBO’s “Succession” series, but they do often face difficult questions about the future.

MMG Advisors, a New York-based investment bank for middle-market consumer products, retail and fashion companies, is conducting a free virtual seminar on May 10 from 4 – 5:15 p.m. EST that will address the most challenging issues facing families in business. Anyone interested in attending can email [email protected] for a link to the seminar.

MMG advises on thousands of merger and acquisition and financing transactions in the U.S. and internationally and represents clients who wish to acquire, sell or combine a business or business segment.

Next month’s seminar will provide business leaders with important information that can help them decide whether to transition the business to the next generation or sell what may be the family’s most important asset.

The virtual seminar will also share best practices from family-owned business leaders and experts on long-term and sustainable governance, mentoring and developing the next generation of family leaders, succession planning, purposeful culture and positioning the business for sale, among other topics.

Dr. Josh Baron, co-founder and partner of BanyanGlobal, a family business advisory firm, and co-author of the Harvard Business Review Family Business Handbook, will be the keynote speaker.

In addition, a CEO panel made up of leaders of family-owned apparel and fashion companies will share their views on running a successful business.

Editor-in-Chief Allison Zisko first joined HFN in 1998 and spent many years covering the tabletop category before widening her scope to all home furnishings. In her current role, she oversees all aspects of HFN, including its print and digital products, and represents the brand at home and abroad through presentations, panel discussions and HFN’s podcast, The Inside Scoop.



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