Family Enterprise Foundation’s research provides the most comprehensive picture of transition intentions in Canadian business families to date. The second part of this national study is summarized in our report, Who are the Guardians of Family Legacy?
Our research identified a generational shift that challenges the notion that the next generation is not ready, willing or interested in taking over the family business. In fact, 97 per cent of next gen (18-35 year-olds) respondents consider it important to sustain the family business, while only 74 per cent of senior generation (60+ year-olds) respondents feel the same. Clearly, the senior generation are not the sole guardians of family legacy.
With insights and advice from experienced business owners and Family Enterprise Advisors (FEAs), and support from KPMG Canada’s Family Office, the report takes an in-depth look at the commitment younger family business owners have towards preserving the family business and the key role they play in sustaining its legacy for future generations.
Ready, Willing and Interested – or NOT?
Part one of our report highlights the significant misgivings about the passion and capabilities of the next generation to take over the family business. It also takes an in-depth look at transition planning and how family business leaders can prepare their family, as well as their business, for this imminent transition of wealth, ownership and leadership. For more details, download Ready, Willing and Interested – or NOT? Canadian Family Business Transition Intentions.
Our research into continuity planning and transition intentions is supported by KPMG Canada’s Family Office. We thank them for their ongoing support of family enterprise and business owners in Canada!
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.