Family businesses are powerhouses of the global economy. But how can they secure growth and smooth generational transfer in an age of fast-changing technology?
For our report, The Connected Generation, we interviewed family business leaders from across the world and their advisers. The report lays out their views and our recommended approach for what family businesses must do to ensure they secure their future growth by:
- Making transition more collaborative and open so that the next generation feel they can make a difference and test their ideas
- Creating a framework to introduce potential next generation leaders to the business and manage the complex legal and emotional issues involved in transition.
Contributors include Professor Morten Bennedsen, leading family enterprise academic from INSEAD, James Reed of REED, Sir Brian Souter of Souter Investments and Stagecoach, Hortense Decaux of JCDecaux Holding SA, and Maya Prabhu of Coutts.
Alongside the report we have produced a comprehensive stewardship guide, Connecting Generations: A guide for entrepreneurs and family businesses, which examines the legal and governance issues faced by family businesses in light of the accelerated pace of change caused by technology. The guide provides practical guidance and advice on how to manage the seven greatest concerns around succession that keep our clients awake at night.
To receive a copy, please contact email@example.com.
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1825 is Standard Life’s wholly owned financial planning and advice business.