Family Business Legacy: New Directions for Research and Practice

Martin Kemp from the Family Business Research Foundation discusses findings from a study by STEP Project Global Consortium(SPGC) and KPMG Private Enterprise on legacy in family businesses. The SPGC/KPMG report identifies the main dimensions of legacy in family firms, and develops the idea of the ‘legacy paradox’. The article draws out some of the implications of the study for family business owners and practitioners, as well as for research in the field.