Our latest insights

In estate planning, the focus is often on technical elements like drafting a will, appointing executors, minimising tax, and ensuring assets pass as intended. While these steps are important, they only form part of the picture.

The 2025 Grant Thornton Family Business Report revealed that only 19 per cent of family businesses have a documented succession plan in place. This finding is both striking and concerning, especially at a time when generational transition has never been more complex, and the stakes have never been higher.

The 2025 family business survey found that 63 per cent of family businesses are already mentoring rising generation family members; 60 per cent are gradually integrating the rising generation into decision making and 31 per cent are engaging external advisors to support development.

Our 2025 Family Business Survey revealed a recurring theme that presents both a challenge and an opportunity: succession planning. Succession is often viewed as a pivotal moment in a family business’s lifecycle.

For family businesses, this demographic milestone signifies an important moment. As many founders and senior leaders approach retirement age, the need for thoughtful succession planning and effective intergenerational collaboration has never been greater. Navigating this transition isn’t just about handing over the reins – it’s about evolving the business while preserving its legacy.

In the bustling world of family businesses, leadership in the business will be transitioned as one generation becomes older. So, how do we ensure that the rising generation is ready to take on the financial challenges that come with this responsibility? The answer lies in building financial confidence in the Rising Generation.

As family businesses evolve, financial transparency has become a vital element for fostering growth and trust. As the baton passes to the Rising Generation, a new wave of openness and accountability is reshaping the way family business discuss money.

Inflation can create tough situations for family businesses, with increased costs and pricing dilemmas. It's important for family businesses to have strategies in place to tackle these challenges, allowing them to thrive.

In a family business, it is crucial to have a shareholder agreement to ensure there is consensus on key issues, to provide clarity, and to minimise the risk of conflict between family members – before issues arise.

To ensure your assets will be protected should you become unable to make financial decisions due to an accident or bad health, we recommend your Estate Plan includes an Enduring Power of Attorney.

You may think that your business is too small to target – too insignificant to warrant the attention of the widely publicised cyber-criminal groups that chase multimillion dollar ransoms. In reality, a large number of criminal groups exist around the world, exploiting the entire spectrum of online activity.

Traditional gender roles have seeped through family business in societies across all cultures, and the right of succession belonging to the first born child is still customary. What is the impact of this on the performance and operation of family businesses, and what does this mean for the next generation of family business owners?