Succession in a family business is one of the most critical, yet often the most uncomfortable conversations. While strategies and sales targets may be discussed at length, the question of “Who takes over next?” tends to remain in the shadows—delayed, avoided, or assumed.
In many family businesses, succession is not a formalised process. It unfolds organically, often based on availability rather than preparedness. In our own multi-generational family enterprise, the second generation continues to lead from the front, having built the business into a respected presence across industries like healthcare, food, and education. But as third-generation members begin to step into operational roles, the absence of a clear, agreed-upon succession roadmap has started to show its limitations.
The tensions aren’t always loud. They’re subtle—unclear boundaries, overlapping responsibilities, hesitation to delegate, or younger members unsure of how far they can lead without overstepping. The older generation, understandably attached to what they’ve built, may feel reluctant to let go. Meanwhile, the younger generation feels ready to contribute—but not always empowered to do so.
According to Gersick et al. (1997), a structured succession plan helps prevent power struggles, miscommunication, and the all-too-common “freeze” where no one moves because no one knows what’s next. Without it, the business risks losing momentum and unity.
Succession is not just a leadership change—it’s a cultural shift. It requires honesty, humility, and mutual respect. It’s about building a bridge, not a battlefront, between generations.
references:
Gersick, K.E., Davis, J.A., McCollom Hampton, M., and Lansberg, I., 1997. Generation to Generation: Life Cycles of the Family Business. Harvard Business Press.