Baker Tilly International has launched a global research project which seeks to get to grips with the way in which family-owned businesses are planning succession in their respective regions.
The project, which will see member firms inviting owners of privately-held and family business to provide details of their strategies through an online survey, will gather information in all of the jurisdictions where Baker Tilly operates.
CEO and president of Baker Tilly International, Geoff Barnes, said that 'family businesses valuing trillions of dollars will change hands over the next decade as the baby boomer generation pass their businesses on.
'Many of those retiring currently have no exit strategy. To achieve the best possible outcome, owners need to understand the many complex family, individual and business issues that must be addressed in the succession process,' said Barnes.
The survey will examine the dynamics, barriers and success strategies for succession.
The firm expects to use its findings to build on existing research which has been undertaken over the last two-and-a-half years by Baker Tilly Pitcher Partners and Swinburne University of Technology in Melbourne.
Supported by regional and global comparisons and analysis, the findings will include high-level commentary and insights and is expected to be available in mid-2013.