COTD: More than half of businesses lack succession plans

This is despite family business leaders wanting to keep their businesses in the family.

More than half (55%) of Singaporean entrepreneurs have no business succession plan in place, according to a The Wealth Management Institute report.

This is despite 78% of family business leaders across US, European, and Asian markets aim to keep their businesses in the family.

Regionally, Taiwan (65%) and Hong Kong (64%) lead Asian countries with no plan, followed by Singapore, UAE (48%), and India (47%).

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