AIR+23 Jul 2020

Family business model in Asia set to change with new generation of business owners

| 23 Jul 2020

The multigenerational family business model could be set to decline in Asia, according to a survey of more than 1,300 family business owners in six Asian markets conducted by Sun Life Financial. The research revealed a shifting mind set among first generation business owners as 70% of younger owners surveyed believe there will be fewer family-owned businesses in future and almost 60% believe owners will opt to sell the business rather than pass it on to the next generation.

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