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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.