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Succession
Family businesses in China might not be as old as their western counterparts – Chinese family firms are just nine years old on average – but there is plenty of opportunity for next-gens to learn from founding family members.
It takes work, collaboration and communication but when done right, a proper, constructed business continuity plan is a masterpiece that can be enjoyed by next-gens.
Jayanti Chauhan, daughter of the founder of bottled water-maker Bisleri, has rejoined the Indian family business more than a year after she quit.
The gender of next-gens is more important than birth order or financial needs to many wealthy parents who are faced with deciding who will inherit the family business.
Mergers and acquisitions of family businesses have been on an upward trend. The combination of a long-term outlook and a desire to preserve family heritage often woos companies controlled by families to look to each other for expansion and growth.
Bianca Hope Rinehart, daughter of Australia’s richest woman, has officially left the board of mining family business Hancock Prospecting, following a fall-out with her mother.
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