RSA Conference Exhibitor List 2024 - Exhibitors Data
MGI survey june 2013 results summary
1. MGI Australian Family and Private Business Survey - June 2013
Succession Plus Pty Limited │ABN 37 123 750 916
Level 3, 50 York Street Sydney NSW 2000
P 1300 665 473 │F 1300 665 473 │W www.successionplus.com.au
Liability limited by a scheme approved under Professional Standards Legislation.
Ownership:
Owners in the 60-69 age bracket - 37% - up from 21 % in 2010 (average age now 58)
Business objectives:
55 % accumulate wealth,
21 % pass onto next generation,
9 % employ family members
34 % do not have an adequately funded retirement plan (up from 17% in 2006)
Sale of business:
Would seriously consider selling if approached 64% (25 % have been approached in last 12
months) - 79 % of non-family firms
Plan to sell (now or later): 44 % (75 % of non-family firms)
Of those that plan to sell:
Wish to retire 32 %
Have concerns for future 25 %
Lack of family successor 21 %
Original intention 10 %
Sale price exceeds expectations ( down from 20 in 2003
6 %
and 17 in 2006 )
Leadership succession:
41 % believe that it is not feasible to implement leadership / management succession into
their family business:
58% indicate younger generation NOT interested in actively managing the business.
40 % indicate the current family CEO is likely to be succeeded by non-family manager
Only 20.4 % have a clear process for successors to develop as individuals, in their roles
and in the business.
Issues and Challenges:
Letting go of leadership and control 37%
Securing adequate capital for growth and retirement 36%
Providing liquidity for family owners to exit 33 %
Choosing a suitable ownership structure for the next generation 33 %
Succession:
75 % have NOT agreed proposed succession plan
33 % relying on sale of business for cash to fund retirement