Legacy Business
Succession Planning
By: Welcome to Chinatown
A framework and roadmap outlining how Welcome to Chinatown can support legacy small business succession planning.
Many business owners in Chinatown are reaching retirement age and a significant portion of them do not have succession plans.
These legacy businesses are a core element of the cultural identity of the neighborhood. Succession planning is essential to keeping businesses in local hands and preserving the cultural character of Chinatown.
Welcome to Chinatown commissioned HR&A for this study.
About This Report
Summarizes findings from 14 interviews with legacy businesses and succession planning experts.
Provides a framework to assess which legacy businesses may benefit most from succession planning support.
Proposes a roadmap that Welcome to Chinatown can deploy to address the needs of distinct legacy businesses.