The recently released findings of a four-year study into the planning of family businesses paint a fairly dire picture of Australian succession planning practices.
The risks associated with failing to have an exit strategy include losing out on the value that you have generated over your career, as well as risking your clients being left high and dry.
Many research participants also listed disrupting family harmony as a concern.
MFAA On Air spoke to Nancy Youssef, an MFAA Certified Mentor who currently has more than 50 mentees, about how to plan for the future.
