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Family Business Survey

September 23, 2013

Two thirds of Australian family businesses do not have a succession plan in place despite the majority of family chief executives being over the age of 50 and nearly 20% being over the age of 65, according to a KPMG and Family Business Australia survey.

Two thirds of Australian family businesses do not have a succession plan in place despite the majority of family chief executives being over the age of 50 and nearly 20% being over the age of 65, according to a KPMG and Family Business Australia survey.

Seventy-two per cent of family businesses listed balancing family and business issues as the primary challenge for their family firm, and 67% said maintaining family ownership was a primary concern.

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