Cypriot-born Andreas Liveras made his fortune in England in the food business. But retirement left him wanting and so over the course of 20 years he built up one of the most successful yachting companies in the world. Liveras is currently building five splendid yachts aimed at the charter market.
More and more studies are showing extra longevity for family controlled firms, despite a conspicuous lack of resources and vulnerabilities. Yet many find the goal to endure and preserve wealth a long haul requiring commitment and adaptability
By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases