• Family Business Succession Planning

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Family Business Succession Planning

Succession planning — handing over power to a new generation — can be challenging for any business, regardless of how established it is. In Australia, succession issues are particularly evident in family businesses, with only 13% of organisations make it through to the third- generation. That’s a worrying statistic for any Australian family business in which the next generation is about to take control, whether they’ve been closely involved in the business's day-to-day operations and strategic planning or are only now getting actively involved.  

Develop your succession plan

At BDO Australia, we help families create a workable succession planning framework for the future of their business. We take you through a step-by-step process that forces you to think strategically about the next generation in your organisation and identify ways to balance your family's needs and your business. Our succession planning specialists can help you:

  • Identify succession goals
  • Determine appropriate short and long term management approaches (family vs external manager)
  • Consider any exit options
  • Identify potential succession risks and develop plans to address them.

Steps for a family business succession plan

Succession planning should always start with a conversation. A family business specialist with solid experience at your local BDO office will work with you to formulate clear steps that fit your vision and ensure a stronger future for your family business.

Successfully passing control to the next generation is the goal of most family businesses. To safeguard and future-proof the business growth and success you’ve worked so hard for, talk to a BDO family business specialist and find out how you can gain control of your business’ future.


Contact Us

Please fill out the form below to contact us. Alternatively, please call us on 1300 138 991.