INHERITANCE AND SUCCESSION – AUSTRALIA

Defusing the family conflict timebomb

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Original article by Damon Kitney
The Australian – Page: 20 : 16-Oct-14

The 2014 version of the "Family Business Survey" conducted worldwide by PricewaterhouseCoopers notes that just 33% of such enterprises in Australia have a shareholder agreement, while globally the average is above 50%. Consultant David Smorgon argues that the dismantling of the $A1.5bn Smorgon Consolidated Industries conglomerate in 1995 shows the value of an adequate governance process in dealing with family ownership issues. Another finding in the study is that relatively few local family business operators have plans to hand over to their children

CORPORATES
SMORGON CONSOLIDATED INDUSTRIES PTY LTD, PRICEWATERHOUSECOOPERS, POINTMADE PTY LTD, COOPERS BREWERY LIMITED

Keeping it in the family on wane

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Original article by Tim Boreham
The Australian – Page: 16 : 6-Oct-14

Australian Small Business Minister Bruce Billson will on 6 October 2014 issue new research by accounting firm Pitcher Partners. The study of 500 small enterprise owners from the baby boom generation shows that fewer than half aim to roll out succession plans that ensure the assets will be held by their children. This compares with an average 65% for the other 56 nations surveyed. Another finding is a growing trend among those who do want family ownership to consider female offspring as well as male

CORPORATES
PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, AUSTRALIA. DEPT OF INDUSTRY