Families should manage wealth like a business

ASEAN'S meteoric economic rise over the past two decades has seen the emergence of an entire class of successful family businesses across South-east Asia.

From humble beginnings on a factory floor or shop front, these (now) mid-sized firms are the bedrocks of every South-east Asian economy employing hundreds if not thousands of people. It's estimated that 55 per cent of business in Asia are still family-owned, accounting for over a third of GDP.

But the continued and prolonged lockdowns, consumer confidence remaining low, and buying opportunities aplenty means these businesses, and the connected personal wealth, are at serious cross-roads.