For a family business to survive long term, serious consideration must be given to who will succeed Mum and Dad. They give guidelines around important matters pertaining to the family business, such as succession, decision making and family business roles,” he says. And part of that is succession planning.” Andrew Kenny, head of tax at Focus Capital Partners, says thinking on succession has evolved. “There’s plenty of funding for that but generally it’s not the most desirable funding for a family business because they don’t get to run it like a family any more. You’ve now got a private equity owner who calls the shots and is very financially driven, which is not always how a family business is run.”If the business is to remain within the family, Kenny often suggests a family partnership.

Source: Irish Examiner March 27, 2026 07:05 UTC