08 Apr 2019
A recent study by SMU’s Business Families Institute (BFI) revealed that only 30 per cent of family businesses in the world made the successful transition to the second generation, 12 per cent remained viable into a third and 3 per cent into a fourth and beyond. According to SMU Vice President, Business Development and BFI Academic Director Professor Annie Koh, research shows that 85 per cent of Southeast Asian family businesses expect to hand over their management to the next generation, but are not well prepared for that. She suggested that preparations be made 10 to 20 years beforehand.
