Navigating the Business Transition Landscape: Timing and Family Considerations
Summary:
In this video, Kerry sheds light on the distinctive characteristics of the business market, emphasising the lack of liquidity compared to traditional stock markets. Kerry predicts that the market will shift towards being a buyer’s market, coinciding with the peak of baby boomers turning 65.
The video underlines the critical role of timing in business transitions, noting that we are approximately a decade away from a significant market shift and sends the clear message that for those with family businesses considering succession, careful thought and planning are essential.
Transcript:
This market isn’t a liquid market. It’s not like the stock market where you can throw your shares out there and, you know, find someone to sell them and the market is changing to a buyer’s market more each day. So timing is everything. For a family business, time for succession planning is important because 30% of family businesses transition to the second generation, 12% survive after the third, and only 3% to the fourth. So, if you’ve got a family business and you think your family might want to be involved in it, think carefully.
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