Can a business survive after the owner's death?

July 23, 2021 2:19am CST
I have come across this several times both on news and in reality. A friend of my mine lost his dad who the sole founder of a certain business, the dad was able to manage the business wonderfully well to the extent that the business was able to have other branches. But after the death of his dad, it's as if he took along the business with him as some of his business outlets (branches) suddenly came crashing. In my own opinion, I think a business that can't operate without the founder is a business with a deadline.Many businesses suffer after founder's death, and it is often caused by the founder being unable to let go of certain decisions and responsibilities as the business grows Is it possible for a business to survive after the owner's death?
7 people like this
9 responses
Mifth221
@miftha (1621)
• Bekasi, Indonesia
23 Jul 21
It must be very difficult, perhaps if there was a replacement from the owner
1 person likes this
Mifth221
@miftha (1621)
• Bekasi, Indonesia
23 Jul 21
@Lindcurtins Maybe, you right
MM
@rainbowsalt (129)
• India
23 Jul 21
It must be hard for sure, but strong will and determination can make the business survive.
1 person likes this
Charity
@Lindcurtins (311)
•
23 Jul 21
Yes that's true
1 person likes this
cterine9991985
@cabuyogty (3023)
• Philippines
25 Jul 21
Maybe for me it really depends on company founder plans and decision making , i think so hahahahahah :)
Charity
@Lindcurtins (311)
•
25 Jul 21
Well you may be right
1 person likes this
relcap23
@florelway (23286)
• Cagayan De Oro, Philippines
23 Jul 21
It depends on the company's succession plan.
1 person likes this
Sharon Elton
@sharonelton (28882)
• Lichfield, England
23 Jul 21
Maybe, if the owner left it to a son who was competent. Some businesses have been handed down from father to son for generations.
Sharon Elton
@sharonelton (28882)
• Lichfield, England
23 Jul 21
@Lindcurtins There are several that last for generations.
1 person likes this
Charity
@Lindcurtins (311)
•
23 Jul 21
Yes but only few we're able to stand on their fit after the demise of the owner
1 person likes this
Disha Singh
@ThatDisha (4010)
• India
23 Jul 21
It's hard but of the next owner can manage them surely I will survive
Charity
@Lindcurtins (311)
•
23 Jul 21
Well you just said it. It's hard but it's possible. That's if the next owner can manage it well
1 person likes this
Disha Singh
@ThatDisha (4010)
• India
23 Jul 21
@Lindcurtins yes, it may even flourish more than before if the current owner find the loopholes of previous one and try to correct it
1 person likes this
Notlilie
@prinzcy (32305)
• Malaysia
25 Jul 21
If the owner didn't train the heir well, then the business would not survive. Anyone who didn't train properly would not be able to do things as good as the person before.
Charity
@Lindcurtins (311)
•
25 Jul 21
Well that's true but on very rare occasions
cherigucchi
@cherigucchi (14876)
• Philippines
23 Jul 21
I like to believe so
Charity
@Lindcurtins (311)
•
23 Jul 21
Sure
Jerr
@CuriousGab (3292)
• India
23 Jul 21
The founder have seen the ups and downs in making his business grow...he have special attachment And the skills or say abilities to handle tough situations. But if you suddenly give it to someone who donot have any experience or interest or skills it is sure to doom.