Like Father Like Son? Small Family Business Succession Problems in Finland

Abstract

Abstract Small family business succession has gained increasing attention during the past decade. In Finland, research projects on family businesses as well as family business succession have, however, been rare. In this research project, a group representing two generations of small family businesses from Southwest Finland was interviewed in order to answer to the research topic, namely, What are the problems of family business succession in Finland at the moment? Findings of the present study are in line with previous results. However, time-consuming planning and open discussions within the extended family' were named as the biggest and most important problems to be overcome in a succession process. SME policy measures and limitations of the study are also discussed in the article.