Preparing for the future : two family businesses managing succession

Tina Fischer

Source

Mainebiz

Date

5-5-2025

Pages

14-16

Abstract

According to Catherine Wygant Fossett, who runs the Portland-based Institute for Family-Owned Business, the biggest challenge for families transitioning a business from one generation to the next is, "Starting the process early enough and having the fortitude to see it through." The two businesses described in this article are McDougal Orchards (Springvale), and S.W. Collins (Caribou).

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