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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.

As family businesses transition from one generation to the next, more family members become involved in the business. What usually begins with a couple of founding members quickly grows to include siblings, and cousins each with their own experiences, personalities and perspectives.

Recent findings from the Family Business Report 2025 reveal that cash-flow management and economic uncertainty are the most pressing concerns for businesses in the construction and real estate sectors.

From 1 July 2026, superannuation guarantee contributions must be paid on payday, with funds reaching employees’ accounts within 7 business days. This replaces the current quarterly payment cycle and means 15 months of super payments will be made in a 12-month period – a major shift in cash flow management.

In this episode of Beyond the Numbers with Grant Thornton, family business consulting experts Kirsten Taylor-Martin and Heather Gouveia discuss the survey findings, how the different generations are working together to create legacy and the challenges of thinking about succession planning alongside retirement.

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.

Family enterprises face unique challenges and opportunities in the ever-growing landscape of business. Embracing technology and digitisation is no longer optional; it’s critical for success and continued sustainability. Embracing technology is critical to ensure future success in your family business. So, what areas of digitisation could benefit your family business?

Managing family businesses can be complex as it involves navigating daily operations as well as family dynamics. Because of this, it’s important both your succession and estate plans align. While documenting your succession plan is key, it’s equally important your estate plan legally reinforces your vision for the future.

Ideally, you want 5-10 years to plan for retirement. The longer you allow yourself, the easier it will be to reach your goal. If selling the business part of your plan, the aim is to secure the best price and maximise your return after tax. So, what factors should you consider for retirement?

In the dynamic landscape of family business and current economic environment, it’s critical to prepare the next generation to ensure they’re comfortable to take over operations.

The ATO estimates Australia has 800,000 trusts controlling over $3t in assets and with $3.5t in wealth about to transition from the incumbent generation over the next 20 years, there needs to be consideration for the impending vesting date of Australian family trusts.