Dear Brothers and Sisters,
Recently, I have come across many newspaper reports on family business succession, and we have discussed several of them.
Today, let me reflect on another article published in The Straits Times on 23 December 2025, titled “Can Singapore family-owned property empires last beyond three generations?”
This is not a new problem. In fact, it is a common challenge faced by many businesses, especially in Asia. Many family businesses are simply not built to last.
If we analyse this more deeply, we may realise that one of the key reasons businesses fail to endure is poor succession planning or perhaps more accurately, succession planning by default. Very often, the plan is simply to pass the business down to the next generation.
But this raises an important question: Is the next generation truly competent to bring the business to new heights or even to preserve what has been built?
From a Biblical perspective, the issue often goes deeper than skills and experience. Many owners hold on to what they have built too tightly.
They feel that because they have worked so hard to establish the business, it should only ever be run by their children and descendants, generation after generation.
What is often overlooked is this: it is the Lord who gives us the ability to create wealth.
Many do not realise that they do not truly own the business. They are merely stewards, entrusted by God to manage what ultimately belongs to Him.
Because of this mindset, business owners may become reluctant to step aside even when there may be better-qualified individuals to run the company.
They are unwilling to withdraw from day-to-day operations, even if retaining control as a major shareholder would still allow them to guide key decisions. Letting go becomes difficult.
In my view, a God-honouring approach to business succession may look like this:
Pray earnestly for the Lord’s direction and His will.
Give priority to children or family members, where appropriate, to take over the business.
Assess honestly whether they are capable, or whether it may be wiser for them to retain ownership while entrusting daily operations to more capable leaders.
Be willing to let go completely, and allow a third party to run the business if that best serves its long-term sustainability and purpose.
Succession is never easy, especially when it involves something we have poured our lives into. If you are facing such a decision, may the peace of God be with you, and may He grant you wisdom, humility, and courage to trust Him fully.
Blessings,
David Poh
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