Plan ahead: When the founder of a small business dies...

File Cabinet

July 14, 1996

Plan ahead: When the founder of a small business dies, retires or becomes disabled, chances are the company will find it hard to succeed under new owners. The American Society of Chartered Life Underwriters & Chartered Financial Consultants says only 35 percent of successful family businesses survive in the second generation, and only 20 percent make it in the third generation. The problem is that many companies don't have a plan of succession. Often there is no clear successor to take over from the boss.

Road warrior: Travelers who can't face the idea of shlepping down to the hotel gym after a day of meetings or heavy sightseeing may be able to work out in the privacy of their own rooms. Working Woman magazine finds a growing number of hotels in big cities have athletic equipment in a handful of rooms or will bring equipment to a room by request.

Pub Date: 7/14/96

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