How can we help?
Close

Ask the Advisor: I know I should be thinking about succession planning but where should I start?

In Ask the Advisor, we put your questions to the experts. Our FBA Family Business Accredited Advisors answer frequently asked questions from family business clients for your benefit. Responses are from trusted professionals who understand the ins and outs of family business. In this Ask the Advisor, Chris Jackson from Oakby Advisory answers the question, "I know I should be thinking about succession planning but where should I start?"

14 August, 2025
Family Business Advisor, Family Business Advisors, New South Wales, Article
image description
image description
image description

Join FBA Today

No one in family business should feel isolated or overwhelmed. FBA provides tailored programs and events for members within a supportive community of peers who truly understand.

Become a Member

‘I know I should be thinking about succession planning but where should I start?'

Start wherever you are. Succession is about transferring control of a family business to the next generation. It's not a linear path or a specific point in time, but a process involving both the business and the family.

I recommend engaging an advisor familiar with family businesses and their unique challenges. An advisor can help navigate solutions, define needs, and develop skills within the family and business.

This collaborative practice requires trust, knowledge, skills and education, and aligns the needs of the family and the business. An advisor can offer an unbiased perspective, helping to mediate conflicts and ensure that decisions are made in the interests of both the family and business.

They can also help build trust among family members as they facilitate open communication as well as help build the necessary skills and knowledge to take over the business one day.

By NSW-based Family Business Accredited Advisor

Chris Jackson
Oakby Advisory 

Connect on LinkedIn

image description

Recommended for you

Small and family businesses most vulnerable to disasters, report finds

Small and family businesses most vulnerable to disasters, report finds

Small and family-run businesses are not only more vulnerable to the effects of a natural disaster, many of them are completely unprepared and uninformed about accessing support resources, a recent report has found. The research was conducted by the Australian Small Business and Family Enterprise Ombudsman which canvassed more than 2000 respondents with businesses employing less than 100 people, that had experienced a natural disaster in the past five years.

Read more
Ask the Advisor: How do we get customers choosing us and staying loyal to our business?

Ask the Advisor: How do we get customers choosing us and staying loyal to our business?

In Ask the Advisor, we put your questions to the experts. Our FBA Family Business Accredited Advisors answer frequently asked questions from family business clients for your benefit. Responses are from trusted professionals who understand the ins and outs of family business. In this Ask the Advisor, Aileen Day answers "How do we get customers choosing us and staying loyal to our business?"

Read more