{"id":352430,"date":"2025-12-18T03:12:09","date_gmt":"2025-12-18T03:12:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/352430\/"},"modified":"2025-12-18T03:12:09","modified_gmt":"2025-12-18T03:12:09","slug":"when-sme-owners-delay-succession-planning-their-business-and-family-pay-the-price","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/352430\/","title":{"rendered":"When SME owners delay succession planning, their business and family pay the price"},"content":{"rendered":"<p>In the wake of an SME owner\u2019s death, cashflow risks and legal uncertainty can threaten business viability<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">WHAT happens when a business owner dies and no one knows who\u2019s in charge? For many small and medium-sized enterprises (SMEs), the answer is chaos. Without a clear estate and succession plan, a business with strong earnings and loyal clients can go into limbo and may even die with the owner.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">A recent survey revealed that 55 per cent of family business owners in Singapore have no succession plans. Yet 81 per cent said they want to preserve their business\u2019 legacy.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">As many older SME owners approach retirement, they may hope for continuity yet lack a succession plan.<\/p>\n<p class=\"font-lucida text-xl font-medium italic leading-normal -tracking-5% text-gray-850\">Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.<\/p>\n","protected":false},"excerpt":{"rendered":"In the wake of an SME owner\u2019s death, cashflow risks and legal uncertainty can threaten business viability WHAT&hellip;\n","protected":false},"author":2,"featured_media":352431,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,131,132],"class_list":["post-352430","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/352430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=352430"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/352430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/352431"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=352430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=352430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=352430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}