No business can succeed and grow without wise financial management. Though talent, intelligence, creativity, timing and luck will propel fast family business’ prosperity, it will take financial wisdom to sustain and increase business growth. Many families in business have turned into family corporations in their initial efforts to professionalize the business and provide legal protection. Much of it were formal paper works. However, many of them have not really transitioned to a more organized, standardized, and really professionalized way of running the family corporation.
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