Family succession represents a specific type of transition that every family company faces sooner or later. Succession is based on transferring ownership from one to the next generation, or even to a third party. The significance of family succession is indicated by data that tells us that only 30% of family companies survive the transition of ownership to the second generation, 10% of companies survive the transition to the third generation, while only 3-5% of companies survive the transition to the fourth generation. Having in mind that family companies are the foundation of many of the worlds’ economies, but also the most frequent type of Serbian company, the topic of family succession is certainly a topic every owner entering a mature phase of their career should consider.
Our expertise and experience in the areas of strategy, organizational restructuring, tax advisory and corporate finance gives us an excellent basis to consider and overcome all of the challenges brought upon by the family succession process. We have a range of tools that help us consider the market position and the operational ability of the company to execute the transition from an objective perspective. Depending on the as-is state of the company, we define a development plan for the successor, revise and redefine the companies’ strategic aims, create specific family acts and realize a coaching program for successors. In the end, we track the company’s operations after the transition, and offer support to the new management.