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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.

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.

The 2025 Family Business Report explored the mindset of Australian family business leaders as they navigate an increasingly complex and uncertain landscape. While the top challenges varied between incumbent leaders and the rising generation – ranging from staffing and cashflow to succession planning – there was notable alignment with the broader threats identified in the survey.

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?

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.

Having funds in superannuation is a great financial structure from a tax perspective. Despite this being a great vehicle to invest your money, you should be aware of the potential tax that applies to certain beneficiaries of your super upon your death.

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.

Social media offers strong appeal for the masses to learn finance due to the ability to quickly disseminate information in a digestible way. While this may not be how previous generations learned financial acumen, it is undeniable that social media platforms are opening new ways of understanding how to build wealth.

Money and finances can often be a sensitive and discreet topic in families, but what about families that own and operate a family business? Discussions about money can often begin around the dinner table, with even very young children receiving pocket money in exchange for chores.