MANAGEMENT
Succession a weak spot of family firms
- Published: 4 Dec 2012 at 00.00
- Newspaper section: Business
Two-thirds of family-owned businesses around the world have seen their sales grow in the past year and expect an even more ambitious trend over the next five years, a PwC survey says.
But the recruitment of skilled staff and the perennial problem of planning for succession will remain key challenges facing family businesses over the long term despite the buoyant prospects.
Sira Intarakumthornchai, CEO of PwC Thailand, said Thai family businesses need to be more proactive and put in place proper succession planning.
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