According to the Business Family Institute at SMU, 89 per cent of business families surveyed indicated that management succession is important to them. Additionally, 81per cent of them believed that their Next Generation would be able to take over the family business. The report was conducted jointly with Deloitte Southeast Asia. While 77 per cent of first generation respondents said they wanted a family member to continue managing the business, 65 per cent of second generation respondents indicated that they are open to the possibility of either a family member or a non-family member having management oversight of the family business.