Succession

One third of family business owners state that it will NOT be feasible to implement leadership succession in their family business. The likelihood of succession appears to be minimal for a substantial percentage of families in business given that:

Over two thirds indicate that younger generation family members are NOT as interested in actively managing the business as the older generation;

Over a third indicate that the current CEO is more likely to be succeeded by a non-family member; and

Only a fifth identify passing the business on to the next generation as a main motivation or objective for starting, or remaining in business.