My hope is that these initiatives will further increase corporate dynamism. The business succession of small and medium-sized firms also presents a prime opportunity to boost the potential for innovation.
Some cases of business succession resemble the takeover of a family business as a venture startup, in which successors combine their own strengths with the advantages of the existing business to pursue new business or shift business formats. Business succession is expected to promote innovation through new business initiatives that capitalize on the trust, experience, and technology of the family business.