This Working Life: Family firms need to plan ahead for succession

The looming pensions crisis means many people may end up working past the age of 65, but policy has not been adjusted to support this change for family business owners

3rd October, 2021
This Working Life: Family firms need to plan ahead for succession
Policymakers should ensure reliefs and incentives work for family businesses of all shapes and sizes, while family firms need to plan for succession before retirement

Family-owned and operated businesses are a key engine of the Irish economy, employing nearly one million people across more than 170,000 firms.

Despite the difficulties of the last 18 months, the overall sentiment in the sector is positive and confident. In research, conducted by Smith & Williamson, the professional services firm where I work, in partnership with the Family Business Network, 80 per cent of owners recently said they would create new jobs over the next...

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