Buckle up for a succession collision course

As family business owners age without considering their handover, the chance of a smooth succession plummets. But two thirds are making the fatal mistake of ignoring the issue.

In the next 10 years, family businesses around Australia will undergo a massive disruption. Expect a wave of consolidations, trade sales or businesses just closing down. The family business sector could be a lot smaller a decade from now.

Two forces are at work here: demographics and an apparent lack of succession planning.

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