Factors influencing acceptance of successor to take over the family business.

In Malaysia, the study of family businesses are more focused on issues such as the establishment of family-owned businesses, business performance, conflict and governance. Recently, the issue of succession planning, particularly replacement issues involving willingness successor who a second or third generation (2GO / 3GO), has not been explored at length yet. This research aims to study the factors that influence the successor to manage the family business to address the issue of declining family business. This research using qualitative methods to collect data as it is inductive. It is consistent with the objectives of this research to answer the question of why and how potential successors is willing to accept the responsibility to take over the family business. Indeed, this research also identifies the factors driving the successor to operate the family business. Among the factors identified in the research is the role of parents, education, skills, tradition and family relationship. Finally, this research is expected to contribute to increasing the number of family businesses with the early preparation and exposure over the potential successors to have interest, knowledge, skills and talent in the field of entrepreneurship.