Most WA businesses have no succession plan

23 February 2018

Future of Business Report

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

Video Transcript (PDF)

To see all the findings, download the Bankwest Future of Business Report 2018 today.

Report details

  • 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.

Targeted businesses

  • 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.

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Things you should know

The information contained in this report is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this publication without first obtaining specific professional advice. To the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945, its related bodies corporate, employees and contractors accepts no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this report.