Family business and succession planning
Succession planning is a significant issue for around half of all New Zealand farmers, according to the ANZ Privately-Owned Business Barometer.
Much of the research and information on the topic has tended to focus on the specific transaction from one generation to the next. But in our experience, the real ground work happens years earlier when the family agrees a vision for the business and formalises a long-term strategic plan for change of ownership. There also seems to be something about having family members who grow up knowing they can play a part in the family business that drives success.
At ANZ, we’ve used our experience to develop some practical tools and resources to help you through the process and ensure a successful ownership transition.
ANZ Succession Insight paper
The ANZ Succession Insight paper, "Passing the Baton: Strategies for building a sustained family business across the generations" looks at the consistent trends for successful family businesses and provides tips for family members and advisers working with families looking to transition ownership to the next generation. Compiled in consultation with leading succession planning professionals from New Zealand, Australia and the UK, Passing the Baton is a valuable resource for all those involved in the succession planning process.
- Passing the baton – Strategies for building a sustained family business across the generations (PDF 1.23MB)
ANZ Business of Farming – Succession workshops
The ANZ Business of Farming - Succession workshops bring together families and local professionals with expertise in this area, such as farm advisers, accountants and lawyers, to look at the key steps required to start the process for family business succession.
For more information on how ANZ can help you with Family business and succession planning,
Find a Rural specialist in your area.
6am to midnight, available 7 days a week.
Have a quick question? Enquiring online is easy.
You need Adobe Reader to view PDF files. You can download Adobe Reader free of charge.