According to Asian business families succession: going the distance with the next generation, a report released by the Business Families Institute (BFI) at SMU and Deloitte, the first generation of a family firm is only likely to cede management control in their 70s. This is despite the fact that 46% of business founders thought members of the next generation would ideally take control of the family firm in their 30s and a further 46% said this would ideally happen when the successors were in their 40s. A total of 83 business families were questioned for the report, with the majority of participants coming from Indonesia, Singapore and Thailand.