Statistics showed that only 5% of the business can be sustainable for 10 years, 0.39% for 20 years and 0.025% for 30 years. In Hong Kong, family business comprises more than 60% of the business. However, only around 4% have comprehensive family legacy planning. Therefore, it would be one of the biggest challenges for the family business owners to sustain their business for longevity.
In order to sustain the family business, it is important to consider culture, council, constitution of business and family succession during the planning, implementation and monitoring of the succession process. A holistic family office designed with the family in mind can preserve the family spirit and wealth. This would also address family issues on succession and governance.
In this seminar, the speaker will share the key risks and factors of family business sustainability, and how family legacy planning and family office could contribute to the sustainability of family business.
Mr. Allan Lee, Vice President, Legacy Academy
Mr. Allan Lee is a Master Family Legacy Planner who is responsible for family legacy consultancy and training services. He specialises in family governance and research on success factors of Japanese enterprises with longevity. He aims at establishing family business governance system for family enterprises. He serves families and their business as a consultant through writing family constitution, establishing family council framework for family communication, and exploring and advising on business philosophy and culture for family business.
| Language: |
Cantonese |
| CPD Hours: |
2.0 Hours |
| Fee: |
HK$100 |
| Deadline: |
2023-03-23 |
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