早有古語: 「富不過三代」；今有威廉姆斯財富 (Williams Wealth Consultancy Limited)發表的一項研究指出高淨值家庭財富至第二代掌管時將下跌至大約百分之三十，轉至第三代時財富總值更跌至僅餘百分之十。長久以來我們不時聽到創富一代企業家辛苦創下的基業被第二代所糟蹋的訊息所渲染；導致普遍人對「富二代」這詞存有負面之意。事實上，有不少企業富二代均肩負起家族承傳的責任。但他們往往同時需要面對不同的壓力，這些壓力究竟是什麼﹖他們又可以如何在堅守基業的同時讓業務得以有新的突破，使家族的業務及財富能穩健地持續傳承下去﹖
使命下的挑戰
根據招商銀行和貝恩公司聯合發佈《2017中國私人財富報告》指出，2016年中國個人可投資資產一千萬人民幣以上的高淨值人群規模已達到158萬人，當中創富一代企業家佔比40%，二代繼承人佔比10%；而未來將會越來越多二代繼承人承傳家族業務。當二代準備迎接家族的傳承使命的同時，亦表示他們須面對各項壓力的挑戰。這些挑戰不單是外圍環境，內在因素也不少。在此，我們先且帶出幾個其中主要的因素。
三大壓力:
1.「基業」的壓力
不同挑戰當中首要面對的定必是交接權杖的過程。企業二代在交接的時候，除繼承管治的權力外，往往需一併繼承上一代的價值觀與領導方式。一方面，上一代基於保護子女的心態，認為只要堅持跟隨前人的步伐便可減低失敗的機會；另一方面二代面對上一代的成功難免會有承擔「敗壞基業」的壓力，令他們未敢將自有的願景及自有的價值觀注入企業內。交接過程看似順利，但面對這個瞬息萬變的年代、科技日新月異、市場走勢難以捉摸；企業缺乏新元素下能否永續經營，這問題有待商榷。
謹記：上一代不單只是代表父母，大家族的成員還句括叔叔、嬸嬸、伯父、伯母等家庭成員。
2. 「經驗」的壓力
即使二代願意將他們的新願景、新價值觀注入企業，期望為企業帶來新的成長機會；但缺乏實務經驗卻是他們須要面對的另一挑戰。大部份二代常常一畢業就被安排在家族企業內工作，由於沒有太多的實戰經驗，當他們提出改革或新構想時，往往因欠缺周詳的策劃而引起上一代或公司的「老臣子」所質疑，導致矛盾產生。
3.「擔當」的壓力
要令企業帶來新的成長機會，除要有新願景及新價值觀外，如何優化內部運作亦為重要。隨著時代的進步，上一代的企業文化及管治方式或多或少存有優化的空間；二代透過企業管治，例如更新或建立公司的管理的機制，能將隱藏的弊端外顯化，這才能避免將來因欠缺企業管治而影響公司的運作。但改革的過程必定被受多方的抨撃；面對這些挑戰，若沒有勇於承擔的決心，是很容易被挫折所擊潰。
永續傳承
面對以上壓力與挑戰，企業二代應養成正面樂觀的態度面對，多充實自己才能發揮對企業的影響力，令企業得以永續。但除靠自身的才能外，亦應善用其他方法輔助，這才可周全地讓家族財富穩健地保存下去。
三大出路：
方案一：設立家族信託
按照自己的意願自由地安排、分配及管理財富，讓後代按照委託人的意願將財富傳承下去，既能保障下一代的生活又可以為財富增值；而這在國外更是最有效的節稅方法。最重要是可以免去將來的爭產風波及後代的揮霍。當然這一切均需與專業團隊協助進行充分規劃及度身制訂方案。
方案二：人壽保險
試想像於在世時購買人壽保險除可以確保家人於自己離世後生活得到保障，亦間接令財富變相增值；因此不論貧或富，大多數人士均選擇人壽保險為財富傳承的方法之一。而近期更有可作跨代承傳的壽險計劃推出及規限提取的時間，以保障後代有穩定的收益。
方案三：開拓新機遇
負責任的富二代除了承傳家族的業務外，他們更需要詳細地了解世界所趨，認知新風險及探索更多的機遇。懂得克服障礙；了解身邊的人或事；認清風險；使創新成為新常態 – 這就是第二代企業家成功的不二法門。
How can wealth pass three generations?
The emergence of “Clogs to clogs in three generations” is based on the observation that the first generation creates a kingdom of wealth, the second to spend it and the third to finish it. According to an economic study conducted by Williams Wealth Consultancy Limited, wealthy families lose about 70% of their family fortunes by their second generation, and a stunning 90% by the third.
Whether it is due to a changing business climate or the fading interest of the successors, the longevity or the life span of a family business is always documented to be difficult to predict. The overlapping needs from a family and the business often develop contradictions. So, what are the challenges involved and how can a family sustain its business in consideration of all the conflicts?
The Challenges
A qualitative case study “2017 China Private Wealth Report” jointly issued by China Merchants Bank and Bain & Company found that the population of high net worth Chinese individuals with personal investments of more than RMB10 million has reached 1.58 million in 2016. The finding showed 40% of them are from the first generation and the second generation accounts for 10%. As the population of the second generation grows, the pressure of these children in the family businesses also increases with a mission to perpetuate and sustain their businesses for the future. Before we look at how this mission can be accomplished, let’s look closer into what the common pressures and challenges are:
The 3 Pressures:
1. Sustaining the Foundation
On one hand, parents hope their children will follow their foot-steps, family principles, values and management style, and wish they can simply harmonise with their long-established family business by pushing their children hard. On the other hand, some choose not to bring up the subject too often to avoid giving too much pressure to the children. From time to time, we also witness some remarkable first generations “won’t let go” and hang on to the business, which leads to many frustrations for their successors as it will postpone all the strategic plans and decisions they wish to implement. These plans could be the ideas to implement more formal guidelines or build new management protocols etc. The implementation process may seem smooth at first in fortunate scenarios, but may not always be the case, as these new changes can often contradict with the historical “blueprint” developed by the first generations.
Note: In big families, first generation can also be uncles, aunties or other key family members, and not just parents of the family.
2. Lack of Experience
When second generation injects their new entrepreneurial vision and passion to the family business, the aim is to undoubtedly grow and scale up the company from its existing mode. However, lack of practical experience in making appropriate corporate decisions can create problems. As a natural practice, most of the second generations are often placed and arranged to work in their family offices as soon as they graduate. They have minimal exposure to the operational processes and the business working environment since the leader has been running the business for so long. In this case, the heirs are not always willing to make changes as they foresee they will need to bear risks or consequences from potential failure. Due to lack of experience, we also see that the first generation feel uneasy and not confident to agree with successors’ new strategic plans and ideas. Eventually, it also explains why younger generations are reluctant to step out of the “comfort zone”.
3. Responsibility and Accountability
To help a business grow, apart from having new visions and innovations, optimising internal operations is just as critical. As the next generation succeeds, they can manifest hidden defects through corporate governance, such as updating or establishing new management mechanism which can enable them to become more agile in responding to future challenges. Inevitably, the transitory process may be interrupted by many parties due to disagreements. Therefore, it is fundamental for the younger generations to be determined enough to stick with their original ideas as setbacks and the noise of defeat will only grow as time progresses.
Sustainable Heritage
In view of the pressures and challenges, second generations should always have a positive and optimistic mindset. At the same time, they need to put immense effort with strong determination to grow the business by making new changes and gaining acceptance from all key stakeholders. It is obvious that you cannot get promotions and compliments based on nepotism alone; even a key family member will need to work hard to earn his place at the table. To keep up, they need clear-cut roles, boundaries, governance and well-defined succession plan. Let us now look closer into the 3 guidelines to point second generations to the right track:
The 3 Solutions:
(1) Family Trust
Set up family trust to arrange, distribute and manage wealth according to family members’ wishes, so that wealth can pass on to protect the next tier of generations and create lasting success. Additionally, setting up a trust is perceived to be an effective tool for tax saving, as well as to avoid future potential disagreements as when the keyman of the business passes away. Of course, this requires a step by step discussion that involves thorough planning with the entire Management Team.
(2) Life Insurance
Life insurance is becoming more and more popular. Why? It is a handy and cost-efficient tool to ensure that the deceased individual’s family is well protected and can even potentially accumulate wealth as a result. Recently, there are a lot of insurance plans launched in the market with new product features, aiming to provide more flexibility for the payer and the beneficiaries for better liquidity purposes.
(3) Exploring New Opportunities
In addition to inheriting the family business, the successors need to continuously explore what’s out there in the world, recognise any potential risks and explore new business opportunities. Without a doubt, they have to learn how to assume risks, overcome hurdles and be innovative at all times to enhance and enrich their precious family businesses.