PUBLISHER : MALAYSIASME
Most SMI-SME companies in Malaysia are categorised as family run business. According to PWC’s survey in year 2012, only 41% of owners intend to pass the business to the next generation due to the owners’ concerns of the skills, aptitude and appetite of the next generation. However, both sole-proprietorship and partnership entities have unlimited liability exposure, which makes for a critical factor in business succession. The business’ liability is passed down to the owner’s personal estate upon his death …
