Omnis Logo
Contact Us

Family business succession planning guide

New succession planning guide for family businesses

The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning.

Many family business owners hope to pass on their business to the next generation.

Family business succession maintains the strong connection between the two most important things in a family business owner’s life; their business and their family. Succession can also be the perfect way to cap off the business owner’s personal business journey.

Given the highest proportion of business owners are aged between 45 and 59 years, there has never been a more important time to initiate a succession plan.

The “Introductory Guide to Family Business Succession Planning” provides a step-by-step guide to passing the family business onto the next generation.

A recent report revealing that 54% of family businesses have no documented succession plan in place and no retirement plan for the current CEO.

The easy-to-read guide offers tips on how to handle tense conversations that can arise between family members throughout the transition phase.

The guide is free and available on the ASBFEO’s website at https://www.asbfeo.gov.au/news/news-articles/new-succession-planning-guide-help-build-family-business-legacy-0. 

Omnis Group are modern, forward-thinking Business Accountants in Perth, providing practical, proactive, real-world advice and support that goes beyond the basic preparation and lodgement of tax returns, to identify opportunities for improvement in your business. Contact us in Subiaco Perth on 08 9380 3555.

Omnis Logo

Omnis is a strategic accounting and financial planning firm that understands you and your business, and helps you maximise the opportunity you have.

We go beyond numbers and are driven by insight, guidance, and a personalised approach tailored to your unique needs.

Contact Us

Street address:
Level 2, 7 Rheola Street, West Perth WA 6005

Phone Number:
08 9380 3555

Facebook Instagram Linkedin

Get Started

Liability limited by a scheme approved under Professional Standards Legislation.

Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel