And yet only 15% of family firms have
a ‘plan’ for their succession process.
More worryingly, this figure has not
risen significantly in recent years.
In our experience adopting the thinking
and terminology of ‘business continuity’
rather than ‘succession’ can itself be
a useful way forward: if the current
generation sees succession in these
terms it can help them approach it more
objectively, and avoid the emotional
stresses that can otherwise arise.