Family business and succession planning: dynamics, barriers and strategies

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This research will generate better strategies, protocols and policies for family business succession planning, tailored to the Australian context. Family businesses constitute about 70-80 per cent of Australian businesses, and $4.5 trillion in business value. It is estimated that $3.5 trillion of business value will change hands in the next decade as the post-war generation of business founders moves on. Yet surveys routinely show that family businesses indefinitely defer succession planning, placing businesses and their stakeholders at risk of acrimonious conflict and business failure. This research will contribute towards the National Research Priority goals strengthening Australia's social and economic fabric and ageing well, ageing productively.