Don’t Just Handover—Plan Brilliantly!

Why Smart Family Business Owners Prioritize Succession Planning
 September 12, 2025 | Member Article

This is the 2nd in our weekly series on Family Business Succession, designed to help owners secure their legacy and ensure a smooth leadership transition. Check back each week for practical, action-oriented tips!

For many families, their business is more than a job—it’s their legacy, their passion, and often their most significant investment. But without a clear succession plan, even the most successful family enterprises can falter.

Here’s a stark reality:

• 41% of family businesses plan to pass ownership and management to the next generation

• Only 30% survive into the 2nd generation

• A mere 12% make it to the 3rd generation

• And just 3% endure into the 4th generation and beyond

Succession planning isn’t just paperwork—it’s strategic foresight. Here’s why it matters:

 Protect your legacy by ensuring your business survives and thrives across generations.

 Secure growth by preparing t