No.212

It’s an Honor that the Second Generation of Entrepreneurs dares to take over
ReleaseDate: 2015-01-04

Recently, in response to the invitation of “Fortune Generation” magazine, President of JuneYao Group Wang Junhao attended the “Ping An • Chinese Family Enterprise Inheritance Forum” held in Shanghai , an event hosted by Ping An Bank Private Banking, and organized by “Fortune Generation” magazine. He joined a number of entrepreneurs to together discuss the topic of inheritance of family enterprises.

According to statistics, there are now 10.68 million private enterprises and 46 million self-employed industrial and commercial households in China, and the population of propertied class has reached 50 million. China has met an unprecedented historical peak era with the biggest scale of private enterprises. China has entered a peak period of inheritance in the next 10 years, which is also uniquely unrivalled in the global history of enterprise development.

As the guest in the most wonderful interaction stage, Wang Junhao joined 7 experts including Gao Hao, course director on Global Family Business of the PBC School of Finance, Tsinghua University, along with the first- and second-generation entrepreneurs, to unfold intense and penetrating clashes on the most controversial and conflict-triggering topic of “submitting to the wish of family or self pursuit”. As the first generation entrepreneur, Wang Junhao believes that expectation toward the second generation heirs is of crucial importance: “My business startup was very simple at the very beginning, I simply wanted to make some money, but now I want to create a century enterprise, this is my spiritual pursuit and also self pursuit, during this process the happiest thing is to find the unity with the mission of the family enterprise. It’s an honor that one dares to take over.”

Speaking of the topic of self pursuit, Wang Junhao said he began to teach his own child at the age of 3 or 4 that “One person has to climb 6 stairs in his/her life, from the need for survival, need for safety, need for social communication, need for respect, to self transcendence, and in the end, it should be the perspective of ‘Big Self’”, therefore he considers both self fulfillment and acknowledgement of the whole society are necessary. “Inheriting enterprise is also an act of creating value for the society, therefore our enterprise is committed to creating value for the society, becoming a century enterprise in the globalized modern service industry, this target is very clear.”

As an entrepreneur of the first generation , Wang Junhao appears very lenient toward the path of takeover by the younger generation, he calls for more entrepreneurs of the second generation to: “develop the concept ‘it’s an honor to develop the courage to take over’, and create the atmosphere of ‘glory for success, tolerance for failure’, to let the second generation entrepreneurs walk a better road.”

Wang Junhao is sharing his thoughts on the inheritance of family enterprise at the Forum.