Update- Business Succession Just imagine if you’re the last member to manage a family dynasty started 160 years ago. The Fairfax Family sold its final 9.7% in Fairfax Media yesterday for $194.6 million. Then in addition to ending the family dynasty you also know that you could have sold the business for well over $1 billion back in 2007. How would you feel? The lesson is two fold. Firslty, if you own a business then you must continue to innovate in order to grow the business otherwise you could find yourself losing 80% or more of your wealth. Secondly, family is very often NOT the best choice for continuing the innovation required to grow the business. At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me via ‘Contact Us’ at www.newealth.com.au or to call me on +61 2 9267 2322.
11th-November-2011 | 
