WED 24TH MAY 2017

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Bringing the family business community together

The Succession Survey

Probably one of the biggest challenges facing family firms - or is it?  Family Business United is undertaking a research project to understand more about the challeges associated with passing on the family firrm and would appreciate a couple of minutes of your time to share your views on the topic.

Do you think succession planning is the biggest challenge facing family firms today?

yes no

Do you think succession planning gets easier as the family firm becomes older?

yes no

Do you think the next leader of the family firm should come from the family?

To what extent do you think the following factors contribute to making the transition from one generation to the next difficult?

  Not at All Concern Issue Major Issue Significant Issue
 
Lack of open and honest conversation
Reluctance for the current generation to want to step down
Lack of obvious candidates from the next generation
Reluctance to bring in a non-family leader
No defined succession plan
Lack of desire to select one over another from the next generation
Next generation not wanting to work in the family firm
Lack of required skills in the next generation
Current generation not willing to face the next stage of their journey through life
Too much wealth tied up in the business to enable financial independence of the current generation
Existing differences and conflict between family members
The desire of the current generation to treat the next generation fairly and equally
Lack of good family governance in place
Confusion between management succession and being a responsible owner
Lack of funds in the next generation to buy in to the family firm

Are there any other factors that you feel are important in making the transition process difficult?

Who are you?

Where is your family firm based?

What size is your business?

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