The Importance of Estate Planning for Family Businesses

5 April 2011

According to the KPMG and Family Business Australia: Survey of Family Businesses published last year, family businesses account for 70% of all Australian businesses. 

The typical family business cited in this survey is one in which the ownership and management rests solely or largely with one or more members of a single family. While single-family involvement is the dominant family business paradigm, there is considerable variation in business structures and styles, and the business enterprise may consist of two or more families who share decision-making responsibilities.(KPMG, 2009)

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