Pattaya-area company owners packed the Hard Rock Hotel’s conference room to learn how to ensure a family business survives the passing of generations.
Kasikornbank, University of the Thai Chamber of Commerce and Thai Beverage Pcl teamed up for the Sept. 27 Family Business Insight workshop focusing on “choosing the right successor” to take over the family business.
Deputy Mayor Ronakit Ekasingh presided over the workshop focusing on “choosing the right successor” to take over the family business.
Previous seminars have helped 250 families in bringing younger family members on board with the vision of the founders of family-owned businesses.
University lecturer Phusit Wonglhorsaichol talked on how to transfer leadership from one generation to another smoothly while overcoming obstacles posed by inheritance laws.
He said maintaining a business across generations becomes a challenge when there is a large age gap between founders and successors. If the younger members of the family aren’t engaged in the business before the founder dies, there may be indifference in continuing the venture.
