Helping Next-Gen Family Entrepreneurs Forge Their Own Paths
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Description
Taking over the family business can be a real turning point, with many variables and questions. Should you follow in the footsteps of those who led before you? Do you maintain the status quo? Is now the time to leave your own mark? Is this opportunity right for you at this stage in your career?
To answer these questions, we speak with Cara Macklin, Founder and Chief Disruption Officer of Caram. Cara is a Next-Gen Entrepreneur who grew up in a second-generation family business in Northern Ireland.
In 2019, having contributed to a sizable increase in revenue, with staff numbers more than doubling and several awards under her belt, she decided to leave the family business. In 2020, Cara launched her own business, Caram, to help Next-Gen family entrepreneurs globally innovate and scale to stay ahead and forge their own paths.
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A lack of succession planning is the number one reason family-owned businesses fail to survive. But for those who intend to pass on the business to the next generation, assumptions about how the transition will work without clear communication and an agreed structure can have a devastating effect...
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Family businesses go beyond numbers. Most act according to family values and ethical principles, embrace responsible capitalism and positively impact their local communities. This means they are generally better positioned for long-term success when compared to non-family-owned enterprises. ...
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