Many families and businesses in Australia would rather sell their home or business, than pass it down to the next generation. In fact 69 per cent of private and family business owners are planning to sell or pass on their business, and 31 percent of home or business owners are looking to sell. That is twice the global average. Many baby boomers are looking to see the fruits of their labor, and sell their business or large home to have money for themselves and their children in a time of an unstable economic environment.
Key Takeaways:
- Owners of private and family businesses are twice as likely to sell their businesses rather than pass them to the next generation.
- 350,000 businesses changing ownership
more than 3 million employees
contribute more than 600 billion dollars to Australian economy - Most created by baby boomers looking to sell in late life
are encouraging their heirs to go to college
tax reform needed to ensure least amount of loss to Australian economy
“The owners of Australian private and family businesses are twice as likely to sell up rather than hand over to the next generation compared to their international counterparts, a new report by PwC Australia has found.”
Leave a Reply