Passing the crown: Half of local family businesses grapple with succession woes

Good heirs are hard to find.

Family enterprises have to deal with a lot of challenges when it comes to ensuring that the business stays afloat. But family-owned firms and closely-held enterprises are discovering that the internal quest for an heir may well be their greatest stumbling block.

According to the SME Committee of the Singapore Business Federation, succession planning is one of the toughest and most critical challenges for small business. SMEC cited a UOB Small Business Survey conducted in November 2014 which revealed that one in two respondents voiced concerns over finding suitable successors to replace their key person.

Many successful companies also choose to cash out, selling to overseas buyers after building a viable business. SMEC urged the government in to establish a single SME entity which can focus solely on SME issues in the 2015 Budget.

“The Singapore brand that has taken many years to build is often lost following the sale. Strategies on succession planning are overdue and this aspect may be suitably undertaken by the single SME authority as part of its overall development strategy to help successful global companies with the Singapore brand sustain and transform into multi-generational institutions long after the founding members are gone,” stated SMEC.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia