Business Succession Planning Forum – Event 2: Intergenerational Change

Many HunterNet members fall into the category of small and family-owned businesses, which in Australia represent 67% of all Australian businesses and provide 55% of private sector employment. They are often the result of the blood, sweat, and tears of a family, or even several generations of a family. Ensuring that plans are made for a successful transition of leadership and/or ownership of small businesses benefits the business, its employees, the family relationships, and the peace of mind of the owner. A key component to successful transitions is carefully managing both business and family relationships throughout the transition.

HunterNet has facilitated a collaboration between SWS Lawyers and KPMG to host a series of presentations and panel discussion events designed to inform members so that they can more capably navigate business succession. The first event in the Forum was presented on the 4th of May and focused on “partnering” – the process by which a business partners with another business, as a pathway to an owner exit.

The next event will cover:

• Business Sale and restructuring – 19th of October
  

In the upcoming forum event, the topic of intergenerational family change as well as management buyout / management buy-in will be explained within a panel discussion. Key guidance is available to assist HunterNet members in considering their options, avoiding pitfalls, and navigating the transition.

This informal panel discussion will have business owners who have successfully transitioned their own business sharing their experiences alongside knowledgeable local advisors to answer questions from the limited number of attendees.