Founders. Succession and Recruiting Dilemmatic Problems and Financial Resourcing Obstacles : Which to choose Among Money or Power?
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Family businesses conserve more control over corporate. Founders, most sure to pass throne to their children while capabilities, experiences, well-trained business insights and competencies aspects come later. Public companies are less restrictive in determining succession candidates regarding internal/external family circles origins while family business.s (FB) contrary preference raised the issue of when and how. Succession planning is a process, prominent candidates should be nurtured and introduced to the nature of FB since early ages, expected to know .the nuts and bolts. of their FB while gaining experiences from their mentors. Dilemmatic funding problem comes between external source (Venture Capital and angel investors) or internal sources (3Fs) which are not compelling enough for stakeholders and putting certain hurdles to go public. FB founders have been facing the classical yet unseemingly resolved problems, or is it possible to own both control and money? Rich FBs achieve bigger possibilities in gaining power at later stage or in next businesses while power (control) oriented FB seems to be locked in within small-medium sizes. Research shows longer loyalty span from well known co-workers instead of best (circle of) friends/family members.