05/06/2026
As of 2023, there were approximately 5.13 million family businesses in the UK, but 69% of family business owners don't have a succession plan in place detailing what will happen to their business and who will run it after their death.
When family business owners were asked about their biggest concerns if they died without a succession plan, many feared family disputes, employees losing their jobs, the business closing altogether, or seeing the values they worked so hard to build disappear.
A succession plan isn't just about who takes over. It's about protecting your employees, your family, your customers and the legacy you've created.
If you're running a family business, is this a conversation you've had yet?