To Join or Not to Join? Understanding the Succession Intentions of Next-generation Family Business Members

Looking towards 2030 and beyond, Irish businesses must address the interlocking challenges of transitioning to a low-carbon economy, embracing digital transformation, and absorbing external shocks and higher operational costs resulting from global insecurity. Given their continued prominence in the Irish economy, family businesses will have a leading role to play in remaining strong when faced with the financial uncertainties, and unexpected shocks that these trends will bring. The NCFB led this timely all-island university partnership, recruiting almost 400 next-generation family business students to give the pursuit of succession in turbulent times a contemporary voice. We found that succession aspirations are healthy across the island of Ireland, and the shaping of next-generation intentions regarding educational choices, sustainability, emotional well-being and socio-emotional wealth has a vital role to play in the realisation of these aspirations. With its rich and novel set of findings and recommendations, this report aims to better inform Irish Government and European Union policy positions on family business succession.