INSIGHTS ON THE FUTURE OF SRI LANKA’S FAMILY-OWNED BUSINESSES
Strategy consulting firm Stax organised a panel discussion titled ‘Taking over the Mantle,’ in collaboration with the Sri Lanka Institute of Directors (SLID). This event was held to highlight the hurdles that family businesses face around continuity and persevering to the next generation. Stax surveyed a select group of 31 family business leaders – 70 percent of those firms have been in existence for over 30 years. The survey was structured to explore four key themes – strategic thinking, succession planning, professionalisation and innovation – that leaders need to consider for the longevity of their businesses.