Does family business equal small business?

Not at all.

Did you know that some of Australia’s longest surviving and biggest businesses are family owned? It’s a common misconception that when people think ‘family business’, they automatically think ‘small business’. No doubt, you have heard of the Packer’s, the Murdoch’s and the Myer’s. These are all well-known Australian family owned businesses.

In Australia, family businesses make up 70% of all Australian businesses, employing 50% of the workforce.

So, does ‘family business’ really mean ‘small business’? No way!

Family businesses face their own unique set of challenges each and every day. If you are involved in a family business, you need to consider succession planning, estate planning and asset protection options.

To find out more, click here.

Geoff Missen and Nicole Pericic are Accredited Family Business Australia Advisers. To learn more about Family Business Australia, click here.

To find out more, call us on 1300 667 897!