Pitcher Partners recent global study into family business succession reports that ageing babyboomers are more interested in selling their business than handing it on to their children.
According to the study, 48.5% of the 500 Australian respondents cite “keeping it in the family” as a key consideration. This is significantly below the global sample of 2650 respondents in 26 countries, where 65% saw the family succession as critical.
Another major finding was the baby boomers were leaving these decisions until too late. Over 80% of babyboomer bosses in Australia have not yet completed a succession plan!