Why plan the succession of your family business?

By Sonia Garza González, National Counselor of COPARMEX, COPARMEX NL and CAINTRA NL. Selected in 2022 and 2023, as one of the 100 Powerful Women in Business by Expansión magazine.

The topic of family business succession planning has been gaining importance worldwide. In addition to articles, books and even specialized congresses, this topic is addressed by different experts and from different points of view. The initial interest in the family business led to the use of theoretical approaches from the fields of sociology, psychology and, of course, economics.

Family businesses are organizations with particularities, characteristics and dynamics that are different from those of non-family businesses. This type of organization is a very important driving force for Mexico's economic and human development. For this reason, their continuity and permanence over time is fundamental.

In 2019, BBVA of IPADE conducted an interesting study called Level of progress of family businesses to achieve their continuity and harmony, which seeks to analyze in depth the state that companies of this type keep in their internal dynamics, in order to help them better manage the agenda they must address. The sample included 256 companies with this profile that responded to a tool designed for this purpose, finding revealing data, among which I highlight.