Arelle Valla

A lot of businesses fold up after many years of building it successfully after the one who built it retires and the next generation aren’t prepared to take over.      Worse is if not one of the children wants to take over.  That’s why it is imperative for Business Leaders to train their children who are showing inclination to business and prepare them to handle it. Like what Mr. John Gokongwei did to his son Lance, who is now bringing their business to greater heights. And the father of George Lindemann, Jr. to him who went on to grow their family business bringing him to be among the Top 400 Richest man according to Forbes.  Same with Ayala Clan, who owns most of Makati, the Parents made sure that each in the next generation is trained in the best schools to prepare them for new challenges and expand their business.
I personally saw a business sold when none of the kids took the business path.  I first met Mr. Lauro Magnaye or Lolo Mag as we call him when I was still very small in New Manila, Q.C. He was the inventor of Motolite Battery which is now owned by Ramcar.  Motolite is the one with the slogan “Subok na Matibay, Subok na Matatag.” All of his children migrated to the United States and started a life their, which is also good, because they’re all doing good their, however, with respect to the Motolite business, not one was prepared to go on with it, and so was eventually sold, and so with a lot of real estate assets.