It is important to evaluate all available options and consider what paths are best for your business. Below are evaluations of the most common options undertaken by business owners: divestment of the business, sale of the business or voluntary liquidation of the business. Handing over the business to a successor When it comes to handing over the business to a successor, there are two main options available: either keep the business in the family or find a non-family successor within or outside the company. Keep the family businessFamily businesses used to be passed down from one generation to the next, but succession to subsequent generations is now much less common. In the United States, for example, the Family Business Institute reported in 2013 that only 30 percent of family-owned businesses make it to the next generation, and fewer than 13 percent make it to the third generation. Part of this is due to a lack of adequate succession planning. If you run a business, you need to carefully consider whether you want a family member to continue your work and whether they are willing to do so. You don't want to force anyone to run the business, but you also shouldn't assume that your family members won't