Family Business Transfer: The Importance of Continuing the Business

This paper is about business transfer in family businesses companies. The problem of succession in family businesses in Portugal gets special interest given the high number of these companies. The field study uses interviews from five cases studies which were in a succession process. To help in the succession process is important to take into account the succession plan role and all problems that can happen during the process. The succession plan is the most important instrument in the succession process. It should be done on time to prepare conveniently whom is the successor, when and how the succession takes place. Even though, our evidence suggests that succession can be successful, even without a formal succession plan.