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New Seminar to Address Succession Planning for Family Businesses in the Aftermarket

Born entrepreneurs? Recent research offers a new view on family and the possibility of genetic foundations for entrepreneurship.

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FT. MEYERS, Fla. — According to new research recently published by Nicos Nicolaou of the Tanaka Business School, Imperial College in London, there may be genetic links to multi-generational entrepreneurship. Prof. Nicolaou proposes that genetic factors influence the tendency of people to engage in entrepreneurial activity in six complementary ways.

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• First, genes may have direct effects on chemical mechanisms in the brain to predispose some people to engage in entrepreneurial activity.
• Second, genes may make some people more sensitive than others to environmental stimuli that increase the likelihood of engaging in entrepreneurial activity.
• Third, genes may affect the tendency of people to select into environments that are more favorable to entrepreneurship.
• Fourth, genes may influence individual differences, such as extraversion and internal locus of control, that predispose people to engage in entrepreneurial activity.
• Fifth, the genes that predispose people to engage in entrepreneurial activity may also influence the tendency to engage in other social behaviors.
• Sixth, two or more genes may need to interact to influence the propensity for people to engage in entrepreneurial activity.

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Born entrepreneurs? There may be genetic foundations of entrepreneurship, but there are also many practical considerations to consider in multi-generational planning. These will be the focus of a special seminar to be held Oct. 12 in conjunction with the 2011 Service Specialists Association (SSA) Annual Convention this year at the Sanibel Harbour Resort & Spa in Fort Myers, Fla.

The event is sponsored by the American Council of Frame and Alignment Specialists (ACOFAS) and SSA.

"Succession Planning for Family Businesses in the Aftermarket" is a one-day seminar that will cover various aspects of succession planning, with guest speakers experienced in assisting family businesses. A proper business succession seeks a smooth transition between the current business owner and the future owners of the business. Putting off business succession planning is a mistake. A complete succession plan can help ensure that your retirement needs are met and that the business you worked so hard to build will continue to flourish for years.

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For more information or to register for the seminar, go to http://www.truckservice.org/succession/index.html.

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