Understanding The Role Of Succession In Your Family Business

Dr Richard Shrapnel PhD
1 min readMay 3, 2024

The next 10 years represent an unprecedented era of risk and opportunity. By 2030, the Baby Boomers generation across the world will be aged in their 70’s. The value of businesses that they control is in the trillions of dollars. Represented in many instances by small and medium-sized business and, in others, by global brands and controlling interests in significant public companies — this sector is a powerhouse.

The transition of management and control will set the fortunes for succeeding generations, will write the history of the founders and may well impact economies around the world.

Opportunity lies with those who plan and execute their succession early, they will win the rewards. Opportunity also lies with those who see this as an extraordinary window for growth and consolidation; they will pick the jewels from the exiting players in the marketplace and will build some extraordinary businesses for tomorrow.

Here is a short video to help you understand the importance of Succession to your business.