The peril and promise of siblings in a family business

Successions in a family business are difficult — but become even more so when there is more than one child who will inherit the business and assume its leadership positions. Many family business leaders dream of the day they can pass the business onto their children — but that’s easier said than done. If there is more than one sibling involved, things can get complicated quickly. Sibling rivalries dating back to childhood can resurface. Jealousy, tension and disagreements will quickly bubble to the top. And if you’re not prepared, things will get worse before they get better.