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.

To learn more click here.

 


Copy of STEP

STEP Survey 2018-19

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 recently released a Benchmarking Report for 33 countries around the globe!

Check the Benchmarking Reports box below to see how your country compares to other regions of the world.

BENCHMARKING REPORTS

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SURVEYS BY COUNTRY

surveys by country 175x

PARTICIPATING TEAMS/COUNTRIES

survey - participating countries 175x

FREQUENTLY ASKED QUESTIONS

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STEP Research Cases 2019 

The STEP research cases are due December 15, 2019.  

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.

STEP AFFILIATES

STEP by the Numbers

family business research cases
family businesses surveyed
journal articles based on STEP data
books published based on STEP data

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.
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See What's Happening /News and Events

News

STEP Welcomes Spain

December 10, 2019
We are excited to welcome three new Universities from SPAIN to the STEP Project!  The three institutions, University of Valencia, in Valencia, Spain;  University of […]

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

October 24, 2019
70% of global family businesses do not have a formal succession plan But Millennial CEOs are ready to take over, according to STEP 2019 Global […]

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Constancy and Change: Learn How Family Biz Stay Dynamic & Competitive

October 7, 2019
Don’t miss out on the 6th China Family Business Succession Forum & CEIBS 8th China Family Heritage Forum on November 17-18, 2019! This spectacular event, […]

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Events

STEP ASIA PACIFIC PANEL SESSION AT THE CEIBS FAMILY HERITAGE FORUM

November 17 – November 18, 2019

Don’t miss out on the 6th China Family Business Succession Forum & CEIBS 8th China Family Heritage Forum!  For more details, click here.

FAMILY ENTERPRISE CASE COMPETITION (FECC)

January 7 – November 11, 2020

STEP is proud to participate in and sponsor the 2020 FECC (Family Entrepreneurship Case Competition) at UVM, Vermont USA.  We invite you to attend this annual event for students and faculty sponsors.Call for Cases will be issued jointly by STEP & FFI and a STEP member will serve on case selection committee.

Check here for more details.

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STEP Project

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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Photo of 2016 STEP global conference attendees