How Singapore's family-owned SMEs can shoot for the moon
A handover from founders to the next generation is a difficult topic for many family businesses.
Add BT as a preferred sourceLOCAL small and medium-sized family-run companies with an ageing leadership and concerned about their legacy and the longevity of their business can turn to the moon for inspiration.
A PWC report in 2016 finds over a third of Singapore's family businesses are still led by the founder, and around half by the second generation.
Professionally planning for succession is still a relatively new idea here. While you'd expect that most of the family businesses here would already be putting in place their plans for the next generation of leaders and owners, a survey by American Express in 2016 indicates most SMEs here have not yet dedicated the time or resources to formalise succession planning.
Share with us your feedback on BT's products and services
