is it possible for a business to survive after owners death?

[Neta Sam(Samuel Odunlade)]

It's very possible that a business survive after the death of the owner or the founder. If there is a structure for the business and the organization has a well laid down plan for continuing, the business will surely continue.

 

[Michaellee]

It is

A business that can't operate without its 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. Over dependency is something common in sole proprietorship.

is it possible for a business to survive after owners death?

possible for the to survive if the nextbof kin of the CEO is responsible enough to handle the business. The next of kin will be the determiner if the business will crumble or not. It may be difficult at the beginning but with too determination the business will grow back intact it may grow better than how the owner left it

 

[Chumzy]

I think it will depend on the type of business that is in question here particularly. A sole proprietor and hiis business are one and so can actually doe after death. But then it is important that he has a family that can actually make it continue.

 

[Adetayo100]

The business is a sole proprietorship, it will terminate when the owner's dies and its assets will become part of the owner's estate. If the business is a corporation, limited liability company, or other business entity, it will continue to exist and will maintain ownership of all business assets.

 

[Tundeoguns1]

Is it possible for a business to survive after the owners death. That's a very funny question. Well to me a business or company or firm can survive after the death of its owner, but it determine of who is next in line to take over. If the person that will take over is not flowing with the line of the business the business cannot survive no matter what and eventually will be sold off.

 

[Keibah]

There's every possibility for a business to survive after the death of the owner. What is required is continuity? This is the reason detailed account and record-keeping is always important. They are like blueprints of a business and an equally dedicated person with a vision can follow through.

 

[maventiger]

The answer depends on the type of business. If the business is a sole proprietorship, it will terminate upon the owner’s death and its assets will become part of the owner’s estate. General partnerships can survive the death of an owner in some cases, but that is determined by the choice of the surviving partners and any partnership agreement that may be in place.

If the business is a corporation, limited liability company, or other business entity, it will continue to exist and will maintain ownership of all business assets. The deceased owner’s stock or other ownership interests will transfer in accordance with his or her Will or, if there is no Will, the Minnesota intestacy statutes.

@Mahnoor very true. what if an employee or a person that share same vision with owner decides to manage the business. Statistically, it has been proven that the death of sole business owner leads to the closure of the business.

 

[Seun4luv]

If the business is a sole proprietorship, it will terminate upon the owner death and its assets will become part of the owners estate. If the business is a corporation, limited liability company, or other business entity, it will continue to exist and will maintain ownership of all business assets.

 

[maventiger]

If the business is a sole proprietorship, it will terminate upon the owner death and its assets will become part of the owners estate. If the business is a corporation, limited liability company, or other business entity, it will continue to exist and will maintain ownership of all business assets.

very true. what if an employee or a person that share same vision with owner decides to manage the business. Statistically, it has been proven that the death of sole business owner leads to the closure of the business. But in some cases the business will continue to exit.

 

[Abee111]

A business after owners death doesn't mean the business can not run again.
It can still run but not all the businesses..
Some can be even more greater than when the owner was alive, and some, you won't even recognize that there was a business there.

 

[Bookwormlux]

Y

@Bookwormlux what about individuals that aren't related to the owner by blood? Such person can easily fit in the vacant position and drive the business to success. So far the person taking charge of the business shares same vision with the founder.

I forgot to include that. It does not matter if the person is related to the business owner or not, provided the person has the best interest of the business in mind, nothing bad. Such people are more passionate about the business success than even the children of the business owner.

 

[Chibson]

A lot of businesses troubled when the owner dies. It is quite difficult to maintain a business when the person who started it and of course financed it, and made a lot of research before going into dies. Sometimes the business may survive if the owner have someone who is business-minded and of course know how to run a business.

 

[Diamond07]

Yes, a business can still thrive after the owner's death. If proper arrangements has been made prior to owner's death. Ownership transfer must have been made either to children or a relative. If such individual knows how to manage a business, the business will surely survive

 

[Mixi]

There are two methods that we’d recommend for building a business website: using a website builder, or WordPress. The former is suitable for tech beginners, while the latter requires a little coding knowledge.

 

[Philip Omotayo]

It is very possible because the owner is not the only one doing the job. Not only that, having the right set of people makes the business to go on. When you have the right people who are running the business and they are doing well, the the business would move forward after owners death because they would continue to live in the legacy the owner left behind.

 

[Akinwale701]

Yes. It is so very possible for business to survive after the owners death but this is only achieved when the owner has transferred the secrets of the business to their next of kin in line with credit and debt list.

If the people that take over the business are as hardworking as the deceased person and they have the same good mindset that he had towards the business which is to lead the business to its higher ground and to make the business become successful, there is nothing bad in that. it can still be successful

 

[CeeJase]

If the people that take over the business are as hardworking as the deceased person and they have the same good mindset that he had towards the business which is to lead the business to its higher ground and to make the business become successful, there is nothing bad in that. it can still be successful

Oh yes, most definitely. That's why I pointed about the business secrets and someone has it then it will just be like change in management. That is why it is good to choose your hierarchy well and also try to integrate your family into your daily business affairs.

 

[maventiger]

Oh yes, most definitely. That's why I pointed about the business secrets and someone has it then it will just be like change in management. That is why it is good to choose your hierarchy well and also try to integrate your family into your daily business affairs.

@CeeJase a business owner can as well integrate a non relative who is of good character and work ethics. The most important thing is the ability to manage the business. Making the business profitable should be the priority of whoever is taking over the business.

 

[Abbeyola]

A business that can't operate without its 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. Over dependency is something common in sole proprietorship.

is it possible for a business to survive after owners death?

Yes,it is possible for a business organization to survive after the death of the founding chairman or owner.
All that is needed to be done is get a capable family member or friend to manage the business organization,if it can be an outsider that is professional.

A business that can't operate without its 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. Over dependency is something common in sole proprietorship.

is it possible for a business to survive after owners death?

As for yes

Post automatically merged: Feb 12, 2021

As for me yes business can survive after the death of the owner because it depends on the children and moreover it depends on the family if they really have interest in the business and have the knowledge of the business likewise the children only if they don't have mind then they can also sell it sha

 

[Mostee501]

A business can survive after the owners death,so many businesses has thrived after the owners death due to good management and the business being left in good hands,while others failed due to business being left in a wrong hand that is not experienced and bad management.