The Grant Thornton 2025 Family Business report revealed that succession planning remains a top challenge for Australian family businesses.

With more generations active in the workplace than ever before – and an estimated $3.5t in wealth about to transfer to the next cohort of successors – the stakes have never been higher to get succession right. So, how can the rising and incumbent generations work together to showcase the emerging knowledge and expertise in the business, while acknowledging the experience and legacy of those who built the business?

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