Irish family businesses are uniquely hit by unfair ‘succession taxation’ when new generation steps up

In Person: John McGrane of the Family Business Network

John McGrane CEO of NSI Technology, British Irish Chamber, Family Business Network and Kmend. Photo: Steve Humphreys

John Burns

It’s known as the Three Generation Rule. The first generation makes the business, the second generation minds it – and the third generation blows it.

At one time, this rags-to-riches-and-back-to-rags sequence was sort of true.