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family business australia

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.

February 15, 2013

Australia’s huge family business sector is being advised to hire more external board members, following a new partnership between lobby group Family Business Australia and consultants AMPLIFi Governance.

Australia’s huge family business sector is being advised to hire more external board members, following a new partnership between lobby group Family Business Australia and consultants AMPLIFi Governance.

Under the plans, FBA's 2,500 registered businesses will be offered help to find non-executive board members by AMPLIFi.

August 18, 2011

Family business owners looking to pass on the business to the next-generation are concerned about their ability to handle operations, according to research by Family Business Australia and KPMG.

Family business owners looking to pass on the business to the next-generation are concerned about their ability to handle operations, according to research by Family Business Australia and KPMG.

The report, which surveyed around 700 family businesses in Australia, found almost 60% willing to sell the company if approached by a genuine buyer due to concerns about their successor’s capabilities and qualities to take over the helm.

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