Over Six in 10 Irish Businesses Have No Succession Plan, NEW ifac Family Business Report Finds
The inaugural Family Business Report from ifac reveals the real pressures facing Irish family firms today — from succession and ownership transition to rising costs, family disputes, and the growing impact of AI.
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Ifac Family Business Report 2026 highlights:
● 61% of family businesses have no succession plan in place
● 77% say their personal wealth is entirely or mostly dependent on the business
● 2 in 5 business owners would consider selling their business in the next five years
● 1 in 3 have experienced a family dispute affecting business decisions
● More than half expect AI to have no real impact on their business
Irish family businesses are leaving themselves dangerously exposed by delaying succession planning, despite many owners approaching retirement and having most of their personal wealth tied up in their business.
New research from ifac, one of Ireland’s leading accountancy, tax and business advisory firms, found that over six in 10 (61%) of family businesses have no succession plan in place, while 77% say their personal wealth is entirely or mostly dependent on the business.
The inaugural ifac Family Business Report 2026 highlights growing pressure on Irish family firms to prepare for ownership transition, protect long-term business value, and navigate rising costs, economic uncertainty, and rapid business change. The findings also reveal that 44% of family businesses do not currently have succession planning on their agenda at all, while 2 in 5 business owners say they would consider selling their business within the next five years.
Access more insights from the ifac Family Business Report 2026
61% have no succession plan. 77% have everything at stake. See what else the data uncovered in ifac's inaugural family business survey.
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Rising costs and uncertainty
Only one in three family businesses said they are optimistic about performance over the next 12 months, with profitability (56%) and rising costs (52%) identified as the biggest challenges facing family businesses today. A further 42% cited tax burden and complexity as key concerns.
The report also found that one in three businesses experienced family disputes that affected business decision-making, underlying the personal and emotional pressures often involved in family-run firms.
Despite ongoing economic pressure, many businesses remain cautious but stable in their outlook. Two in three businesses plan to maintain current investment levels, while three-quarters expect no change in employee numbers over the next 12 months.
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Family firms are divided about the impact of AI
The report also highlights a growing divide between businesses embracing AI and those remaining cautious about its impact.
While one in three businesses believes AI will improve competitiveness, more than half expect it to have no real impact on their business over the next year. Cost was identified as the biggest barrier to digital transformation by half of the respondents.
Commenting on the launch, James Farrell, Head of SME at ifac, says:
“A huge number of family business owners have most of their personal wealth tied up in the business, yet many still do not have a clear succession or exit plan in place. That creates real risk, not just for the owner, but for the wider family and the long-term future of the business itself. Conversations around succession are often difficult because these businesses are deeply personal. In many cases, they represent decades of work and sacrifice, but delaying those discussions usually limits options later.
“The businesses that tend to transition most successfully are the ones that start planning earlier, put proper structures in place, and take a long-term view of the future. With the depth of expertise and structured support we now offer through our dedicated SME unit, our ifac advisors can help owners to plan effectively.”
Ifac CEO, John Donoghue, also commented:
“The launch of this inaugural report marks a significant milestone for the Irish family business sector as it provides a vital roadmap for navigating the complexities of the current economy.
“At ifac, our dedicated SME unit has been developed to support these businesses, moving beyond traditional accounting to offer strategic guidance on everything from succession planning to digital transformation. Our team possesses the deep sectoral expertise required to help owner-managers tackle rising costs and regulatory challenges while keeping their long-term legacy secure. By partnering with our specialists, family businesses across Ireland can access the professional insights and practical support they need to remain resilient and thrive for generations to come.”
The ifac Family Business Report 2026, from ifac’s dedicated SME unit, also includes practical advice and case studies on succession planning, retirement and exit strategies, AI adoption, payroll and HR compliance, exporting, sustainability, and business growth planning.
Explore the findings of the ifac Family Business Report 2026
Discover more insights like this from ifac's inaugural SME survey, capturing the experiences, concerns, and ambitions of family businesses across Ireland.
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