Business Succession

The Australian startup ecosystem has flourished over the past decade, with companies like Atlassian, Canva, and SafetyCulture demonstrating the extraordinary value that can be built through innovation and determination. However, whilst founders focus intensely on building their businesses, many may not fully consider a critical aspect of long-term planning: startup succession planning Australia involves complex…

When Dr. Sarah Chen decided to retire from her successful Melbourne medical practice in 2023, she discovered what 73% of professional practice owners learn too late: succession planning is far more complex than simply finding a buyer and signing papers. Eighteen months later, after navigating valuation disputes, regulatory compliance issues, and technology transfer challenges, her…

Small and medium enterprises (SMEs) form the backbone of Australia’s economy, representing 99.8% of all businesses and employing over 7 million Australians. Yet tragically, 70% of family businesses don’t survive to the second generation, and only 12% make it to the third generation. The primary reason? Inadequate succession planning. When an SME owner dies or…

Family businesses form the backbone of Australia’s economy, representing approximately 70% of all enterprises and employing millions of Australians. Yet fewer than 30% of these businesses successfully transition to the second generation, and only 12% make it to the third. Technology is beginning to change these odds by providing tools that address some of succession…