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Building Together: Bridging the Generational Gap in Family Businesses

India

The Family Business Forum’s inaugural event took place on December 7th, 2023, at the Sumant Moolgaokar Auditorium, ICC Trade Tower, SB Road, Pune. The event brought together family business leaders to share experiences, discuss challenges, and explore strategies for the sustainability and success of family businesses in India.

Hosted by Nextgeninnov8, an organisation for young minds to collaborate, learn, and grow, with a focus on cutting-edge ideas and forward-thinking strategies. The theme of the event was “Building Together: Bridging the Generational Gap in Family Businesses,” emphasizing the importance of uniting different generations within family businesses for continued success.

Rahul Jain, the Managing Director of InnoServ Group (photos provided)

The event commenced with a welcome from the person behind this great initiative, a visionary leader and industry expert Rahul Jain, the Managing Director of InnoServ Group.

Dr Sandeep Pachpande, Chairman of ASM Group of Institutes, and Co-Founder of Nextgeninnov8.

This was followed by a keynote speech and theme address by a multifaceted personality an Academician, Entrepreneur, Real Estate Developer, Technopreneur, Angel Investor, Mentor, Author, Keynote Speaker, Agriculturist, Dr Sandeep Pachpande, Chairman of ASM Group of Institutes, and Co-Founder of Nextgeninnov8.

A panel discussion on “Succession Planning: Ensuring Continuity and Empowering the Next Generation” featured esteemed panellists:

The panel discussion provided valuable insights into strategies and best practices for transitioning leadership and ownership within family businesses. It shed light on the importance of succession planning, the challenges involved, and empowering the next generation to lead effectively while maintaining the continuity and legacy of the business.

Following the panel discussion, the event introduced the inaugural initiative of the Family Business Forum “BABSON: The Entrepreneurial Family,” presented by Mr. Rahul Jain. This presentation offered valuable insights, strategies, and tools to help entrepreneurial families navigate succession planning, governance, communication, and other critical aspects of managing both their family and business effectively.

As the formal part of the event concluded, attendees were invited to enjoy networking opportunities over tea and coffee.

The event emphasized the significance of family businesses in the Indian economy and aimed to contribute to the overall economy by addressing the specific needs of family businesses. The Family Business Forum aspires to inspire new ideas and collaborations, nurturing the next generation of business leaders and fostering a supportive community of like-minded individuals facing similar challenges.

The event concluded with the hope that the discussions and insights shared would inspire new ideas and collaborations, benefiting family businesses in India. Attendees were encouraged to learn more about the Family Business Forum and its potential benefits for their family businesses, wishing them a fruitful and enjoyable time ahead.

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