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STEP Project

Family Business’ Chair of the University of Valencia (CEFUV) is part of an international research project, in collaboration with research groups of University of Extremadura and Abat Oliba University. The study has been promoted by 48 affiliated universities from different parts of the world. In addition, prestigious academics and large family businesses around the world have been involved in STEP and created a flow of information on good practices and case studies, that will help families to build their business’ legacy.

The STEP (Successful Transgenerational Entrepreneurship Practices) Project was founded in 2005 by Babson College (United States) in collaboration with 6 European partners. It is a global initiative that explores the entrepreneurial process through family businesses and generates solutions that have immediate application for family leaders. Currently, some of the main research groups specialized in the study of family businesses worldwide, such as Windesheim (Holland), Audencia (France), Tecnológico de Monterrey (Mexico), Icesi (Colombia), CEIBS (China), Waseda (Japan), Dalhousie (Canada) or Utah State University (USA), among others, participate in this project.

Our first role in this project has been to contribute to data collection on replacement processes on family businesses in Spain. The project is developed in more than 40 countries and aims to contribute to explain how these succession processes are taking place in different contexts, and the main challenges identified for each of them.

STEP Project 2019: 70% of family businesses do not have a formal succession plan, but those run by millennial CEOs look towards the future in a very different way

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