UWA: Contemporary Issues in Family Business 2022 Annual Lecture

Family Business Succession Going Forward

How have social and economic shocks caused by COVID-19 affected family business succession? Having to survive in an increasingly uncertain environment coupled with demographic changes has heightened the challenge of sustainability for family business. Moreover, the 2021 Family Business Survey conducted jointly by Grant Thornton and Family Business Australia and Family Business New Zealand found that almost 30% of families have not considered leadership transition at all. Similarly, almost 32% have no ownership transition or exit strategy. Has COVID-19 fractured the purpose of family business, that is, to keep the business in the family through succession of family in the business? Will alternatives to intra-family succession, such as external succession, business sale, or business closure be the route for sustainability of family business post COVID-19?

In the 2022 Contemporary Issues in Family Business Annual Lecture these and other questions about family business succession in the aftermath of COVID-19 will be discussed. You are invited to join us in this conversation.