Changing dynamics of family business: Creating value across generations

ZZ Turnaround Solutions, specialising in guiding businesses and families through critical transitions with precision, expertise and care, says family businesses are often characterised by their deeply ingrained values, strong sense of identity, and long-term vision.

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However, they face a unique set of challenges when it comes to ensuring their survival, growth, and success across generations. The process of multi-generational transition — the transfer of leadership, wealth, and values from one generation to the next — is critical to the ongoing vitality and success of family-owned businesses. Effective multi-generational transitions not only preserve the family legacy but also create new value for future generations, ensuring that the family business thrives over the long term.

ZZ Turnaround Solutions Lead Turnaround Advocate Zowfir Zaheed said a key challenge that family businesses face is the transition of leadership from one generation to the next.