Millennial CEOs are ready to take over, according to the newly released STEP 2019 Global Family Business Survey.

70% of global family businesses do not have a formal succession plan

But Millennial CEOs are ready to take over.

More than half of global family CEOs do not have a formal retirement plan and 70% of global family businesses do not have a formal succession plan, according to the 2019 STEP Global Family Business Survey, The impact of changing demographics on family business succession planning and governance.  However, the report finds that Millennial CEOs are ready to take over.

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STEP Research Cases 2019 – 2020

The STEP research cases are due!  

PREMISE OF STUDY:   As with the 2019 STEP Survey, the overarching aim of the case studies is to explore impacts of changing demographics on succession and firm performance. This collection of qualitative data will explore how family businesses are dealing with this issue and what practice in succession and governance looks like in the modern era.  The STEP teams will research the following issues:  i. Differences in generational outlook; ii. Retirement planning; iii. Gender and societal change; and iv. Unexpected succession.

STEP members can download the 2019 STEP Case Guidelines in the STEP portal.  For more information, contact Val Duffy, STEP Assistant Director.

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STEP Survey 2018-19 Completed

Theme:  “Impact of changing demographics on succession and governance”

With people living longer, the traditional methods of transition and governance in family businesses are no longer appropriate.  This research will look to explore and articulate how business families are dealing with these issues and what succession and governance models could look like in the modern era.

The STEP Project has completed this data collection set.  We are thrilled to share the 2019 STEP Global Survey Report as well as a Benchmarking Report for 33 countries around the globe or see the box below to see how your country compares to other regions of the world..  In addition, STEP teams have begun to develop new STEP Country Reports from this data set.  Stay tuned!


benchmarking (1)


surveys by country 175x


survey - participating countries 175x


survey - FAQ web 175x


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Successful Transgenerational Entrepreneurship PracticesSTEP

Founded in 2005 by Babson College in collaboration with six academic affiliates in Europe, the STEP Project is a global applied research initiative that explores the entrepreneurial process within business families and generates solutions that have immediate application for family leaders. The visionary institutions that founded the project include ESADE (Spain), HEC (France), Jönköping International Business School (Sweden), Universita Bocconi (Italy), Universitat St. Gallen (Switzerland), Universitat Witten/Herdecke (Germany), and Babson College (USA).

Join the STEP Project! Learn more about the benefits in this video.

Learn the many benefits of STEP membership from Associate Professor Eric Clinton, Dublin City University, Ireland.
Professor James Davis, Utah State University, talks about the benefits of joining STEP Project for Family Enterprising.

See What's Happening /News and Events


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The Impact of Changing Demographics in Family Businesses

March 18, 2020
We are thrilled to share this week’s FFI Practitioner article written by STEP Academic Director Andrea Calabrò about the STEP community’s research findings of the […]



STEP WEBINAR SERIES: 3rd STEP Webinar: The Impact of Family Businesses in Society: Transformation, Evolution or Cure Date: May 27, 2020  at 10 am – 11am EDT.

STEP PDW at AOM in Vancouver, Canada  August 7-11, 2020

STEP LAUNCH OF GLOBAL CASES REPORT at FFI 2020  in New York, USA  October 28-30, 2020

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Leading academics and business families from around the world have joined as partners of the STEP Project to explore Successful Transgenerational Entrepreneurship Practices and create a stream of powerful practices and cases that empower families to build their entrepreneurial legacies.


The STEP Project for Family Enterprising is the first global research study to focus on entrepreneurship in business families.

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