Family business in Spain currently creates 67% of private employment and is responsible for 57.1% of the private sector GDP. Succession planning is a critical moment for the survival and success of the family business.

Family business in Spain currently creates 67% of private employment and is responsible for 57.1% of the private sector GDP. Succession planning is a critical moment for the survival and success of the family business.

Andersen Tax & Legal held a conference on 14 November 2019 in Madrid with a panel of experts in advising family businesses.

Jesús Cano, Exclusive Mediator for Swiss Life Global Solutions in Spain, pointed out the challenges that succession planning meant for family businesses and how life insurance solutions can provide flexibility in allocating assets to allow for diversification and choice.
He explained that the challenges faced by family businesses are increasingly becoming global and present a great threat for the coming years, in which the world wealth to be transferred amounts to 15 trillion dollars until 2030.