No exit for family business, SmartCompany, 28 July 2010
Wednesday 28 July 2010, Leon Gettler, SmartCompany
Australia's ageing family business owners have a big problem. According to new research on the family business sector, 45% are actively planning to sell their businesses and 61.3% would seriously consider selling now. On top of this, 25.2% say they have been approached regarding a sale in the last 12 months.
There is just one problem - these business owners, who control a large chunk of Australia's $1.6 trillion family business sector, are simply unlikely to get enough from the sale to fund their retirement.
The MGI Australian Family and Private Business Survey 2010 from accounting firm MGI and Melbourne university and RMIT, supports the theory that a tidal wave of family business sales will occur in the next two years, as baby boomers look to sell up and retire.
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