The survey found that only one in four (25.7%) of WA business owners have a succession plan in place, with close to half (49.0%) not having discussed succession planning with their children.
The report also reveals that the majority (79.2%) of WA business leaders are focussed on growing their businesses in the next 12 months.
Future of Business Report - February 2018
To see all the findings, download the Bankwest Future of Business Report 2018 today.
- This report has been prepared by CoreData on behalf of Bankwest
- The research was conducted between October and December 2017 via an online quantitative survey, developed and hosted by CoreData
- The sample is comprised of 259 business owners, leaders and managers in Western Australia.
- Respondents were drawn from small and medium businesses with operations in Western Australia
- Small businesses had an annual turnover of up to $2 million, and medium businesses had an annual turnover of between $2 million and $250 million.