Business Succession

Family businesses can range from very small business to large companies and are found in all industry sectors throughout Australia. Some of these businesses will have just been established while many others have been operating for generations. These businesses are unique in that they have specific needs and issues not experienced by any other businesses

Family businesses depend on the ability of family members to work together. More than in any other business setting, emotional problems, personal issues and relationships between family members and non-family business associates may be critical in determining the course of the business. Success in dealing with these matters may be crucial to the success of the business. Failure to overcome family problems can lead to disaster.

In a recent survey¹ it was estimated that the overall wealth of Australian family business is $1.2 trillion. The survey also found that family businesses account for 83% of all businesses and employ about 50% of the private sector workforce.

These businesses contribute greatly to the Australian economy. Unfortunately, many of these family owned businesses fail to maintain themselves as family businesses from the first to the second generation and even fewer make it to the third generation.

Pathfinder Company specialises in generation succession. We assist owners and their families in analysing management and succession planning needs, implementing workable ownership/management transfer, determining business organisation and establishing effective shareholder communication while making the best use of their team of advisors.

Who should consult us:
We are available for consultation to family members in family businesses. We can also be of help to family business advisors, such as attorneys, certified public accountants, financial planners and others when practical solutions to practical problems seem unattainable.

If you'd like to contact us about our Business Succession services simply go to the Contact Us section and let us know.