Nine tips for creating a successful family dynasty
Most dreams of creating a family dynasty are dashed within decades but a solid succession plan can save money and grief.
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ike many owners of a family business, Nick Rule hopes the next generation of leaders at Hammond Paints will also be family members. He’s the fifth-generation boss of the Victorian paint company started in 1874 – one of only 20 Australian family businesses to survive 150 years or more, according to the Family Business Association.
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