2019-10-01 Singapore Tatler

THE

NEXT

STEP

THE TATLER 300 / Succession Planning

Therearefivekeyprinciplesformanaging a

familybusinesssuccessionto ensure a seamless

transferto thenext generation

BY NICK FERGUSON

ILLUSTRATIONS: EMMA HEYN

M

orethantwo-thirdsof

wealthyfamiliesexpect

a generationaltransfer

inthenext 10 to 15

years,butmanagingsuch

transitionssuccessfully

canbechallenging.Thisis especiallytrue

inAsia,whereculturalissuesoftenmakeit

difficultoreventabootodiscussa handover

tothenextgeneration.Yethandingoverthe

reinstotheyoungergenerationneednotbe

messy.Here,welookatsomebasicprinciples

thathelpensurea smooth transfer.

1)STARTEARLY

Givenallthecomplexconcernsinvolved

ingenerationaltransfers,it is extremely

important to start planning early.

4 singaporetatler. the tatler 300 list 2019