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GSA visits Alice Springs
GSA are proud to be the NSW state partner for Family Business Australia. Nicole Mellick (CEO) and Luke Ricketson (National Business Development Manager) attended the 20th National Family Business Australia Conference in Alice Springs.
The conference addressed a wide range of topics around the current opportunities and challenges facing family businesses.
Throughout the discussions, there was such a strong focus on the importance of leadership in family business. Everyone has a role to play either in a formal capacity, informally within the business, in family council roles or in support roles as a partner to a family patriarch.
Succession planning was discussed as one of the most common challenges that today’s family businesses are facing. Businesses must clear a lot of hurdles if they want their company to survive in the hands of the next generation. Unfortunately, many family businesses are ill-prepared to execute a succession plan. According to Deloitte, 64% of next generation leaders will assume control of their family business without a formal succession plan.
The conference included a mix of work and play, with the highlight being the dinner outdoors at the telegraph station.