Svetlana Emelianova spoke about the existing domestic practice of transferring business to the heir

On November 15, 2018, STEP Consulting managing partner, Svetlana Emelianova, performed within the “Successor 2020” program, on the topic “The ownership game, business cost and inheritance”.

Svetlana spoke about the STEP experience in business inheritance and presented some successful and not very successful cases. For almost 20 years, STEP consultants are working on this issue in different forms. For several years they were conducting a program for young heirs “Business Children”. Coaching for those who have already joint parental business is also in STEP arsenal. But corporate management is still the main tool. Participation in boards of directors or supervisory boards really helps both parents and children. This can simplify giving up the power in business for parents, and makes easier for children to accept this power under the supervision of experienced people.

“Majority of domestic companies is facing the objective of preparing the business transfer,” says Svetlana, “and the issue of ownership continuity has become extremely relevant for our country. There are still very few domestic cases. The main thing to keep in mind is that the future business owner is going to be a “king” but not the “minister”. And it is necessary to get heirs ready for the work of the Owner through global vision, and not through separate competencies. If the heir wants it, of course. ”