Survey Finds Longevity of Multi-Generational Family Businesses is Under Threat
SYDNEY, Sept. 12, 2017 /PRNewswire/ -- Will multi-generational family businesses be a thing of the past? That is one conclusion that can be drawn from the latest Fracchia & Co. "The Future of Family Businesses" survey. The findings, to be presented and explored at the upcoming 2017 Global Large Family Business Succession & Transition Forum, capture the sentiments of 97 large family business owners from all over the world. The key finding? The next generation of successors simply are not ready, or willing, to follow in the footsteps of those before them.
"Confidence in handing over the reins to the next generation of family business owners continues to diminish at a rapid rate… it is the primary theme keeping them awake at night," says Gianni Fracchia, Co-Founder of Fracchia & Co. "Declining interest in family business involvement, skill and capability gaps and misalignments, and the dynamic forces of globalisation are just three of the leading factors threatening the sustainability of multi-generational family businesses," adds Danielle Fracchia, Co-Founder of Fracchia & Co. and author of industry best seller Putting Yourself Before Your Successor: How to Prepare Yourself for a Successful Family Business Transition.
The second survey of its type, "The Future of Family Businesses" questioned respondents across three dimensions: Self-Preparation, Successor Preparedness and Global & Macro Forces. Spanning the full succession planning and transition continuum from initiation to closure, survey findings explore the imperative of adequate self-preparation to self- and organisational continuity. In summary, a fundamental shift in mindset is required to embrace succession planning and transition as a process, not an event.
Coinciding with the Fracchia & Co. large family business forum being held in Sydney, Australia, from September 13–15, 2017, the survey findings will be revealed to attendees: 48 large family business owners from every corner of the world representing a broad range of industries. Complementing the forum, the findings will equip attendees with latest real-world research on the succession planning and transition challenges they may, or are yet to, experience. The forum will also celebrate the contributions of family businesses as part of National Family Business Day.
For more information about the Fracchia & Co. "The Future of Family Businesses" survey findings and the 2017 Global Large Family Business Succession & Transition Forum: Sydney, Australia, visit http://fracchiaco.com/2017fbsyd.
About Fracchia & Co.
Fracchia & Co. is a discreet family cohesion and early-stage succession consultancy firm. Working intimately with affluent parents and couples, and large family business owners, Fracchia & Co. helps their clients across two distinct, yet interdependent dimensions. The first is building a cohesive family unit. The second is early stage succession planning. Fracchia & Co. diligently helps their clients strengthen family relationships and address succession planning and transition challenges. For more information, visit http://fracchiaco.com.
Media & Press Contact
John Anthony
Fracchia & Co.
+61 2 8317 5002
http://fracchiaco.com
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SOURCE Fracchia & Co.