SUCCESSION IN SMALL FAMILY BUSINESSES IN THE TRANSPORT SECTOR

• DOI: https://doi.org/10.22533/at.ed.515732605027

• Palavras-chave: Family business, Successor profile, Succession planning.

• Keywords: Family business, Successor profile, Succession planning.

• Abstract:

  A group of small family businesses engaged in transportation in the central region of the state of Coahuila are currently facing the challenge of planning or carrying out the succession process. Specialized literature indicates that generational succession is one of the main challenges facing family businesses. Around 70% of family businesses in Mexico do not survive beyond the second generation. According to recent studies, this is due to the absence of a succession plan. Therefore, the objective is to identify the characteristics of the successor's profile, evaluate their level of preparation, and propose strategies for a successful succession. The methodology used is qualitative, through a semi-structured interview with ten owners of family-owned transportation companies. The main findings are:  advance planning and the implementation of successor preparation programs are strategies that most of the interviewees have carried out and that have worked for them. Leadership skills and commitment to family values, as well as previous work experience and education, are elements that owners consider essential to ensuring a successful transition. These types of strategies implemented by owners serve to prepare the successor to assume business responsibilities and create an environment of trust and continuity. However, there are significant challenges, such as resistance to change and lack of financial resources, which hinder succession planning.