AVARY Group, spearheaded by visionaries Alan Mak and Wendy Ng, boldly steps into the forefront to combat the global succession crisis with an unwavering commitment to rescuing businesses from retiring owners. Bolstered by a cadre of world-class executives, the power duo aims to leave an indelible mark on a global scale, addressing the aftermath of the unprecedented retirement wave triggered by the COVID-19 pandemic.
The fallout has created a dire situation for baby boomer business owners, intensifying the need for innovative solutions. AVARY Group, recognizing the gravity of this crisis, stands resolved to provide strategic and transformative solutions to safeguard businesses from the severe consequences of closure, ensuring the vitality of local economies.
At the heart of AVARY Group’s strategic response are founders Alan Mak and Wendy Ng, dynamic leaders with a track record of success across diverse industries. Alan Mak’s journey spans the adept management of his late-grandfather and late-father’s businesses in property development and F&B outlets. His commitment extends beyond business, advocating for affordable housing in Malaysia.
As a testament to their dedication, Alan took charge of an F&B business his father left behind, while simultaneously supporting Wendy in building Avalynn Cakes (www.avalynncakes.com) into a thriving ecommerce market leader. Their contribution to society during the COVID-19 pandemic through the distribution of masks and food packs exemplifies their commitment to positive change.
In the words of Alan Mak, founder of AVARY Group, “It is both an honour and an exhilarating challenge to spearhead AVARY Group in addressing the global succession crisis. Wendy and I are genuinely excited about the opportunity to make a meaningful impact on a worldwide scale. We believe that by rescuing businesses from the brink of closure, we’re not just safeguarding economies – we’re preserving legacies, fostering positive change, and contributing to a more resilient global business landscape. This mission resonates deeply with us, and we’re committed to driving transformative solutions that go beyond the conventional, creating a legacy of our own in the process.”
AVARY Group envisions a future where their impact-driven consortium of companies positively influences both local communities and the global landscape. The commitment to acquiring strong businesses from retiring owners positions AVARY Group as a catalyst for positive change, delivering strategic acquisitions that resonate globally.
While AVARY Group’s vision extends globally, its initial focus is on succeeding businesses in Southeast Asia. The founders believe that by initiating change at the regional level, they can create a meaningful ripple effect that extends beyond borders, making a substantial impact on a global scale.
Central to AVARY Group’s ethos is a commitment to a family-driven work culture, rooted in the founders’ belief that family is the cornerstone of a fulfilling life. The vision is to create a workplace where both family and career not only coexist but thrive alongside each other, fostering a holistic environment.
As AVARY Group addresses the global succession crisis, the founders envision a future where their impact-driven consortium of companies makes a tangible difference. Through strategic acquisitions and an unwavering commitment to positive change, AVARY Group aims to carve an indelible mark on the global business landscape.
About AVARY Group (www.avarygroup.biz)
AVARY Group, founded by Alan Mak and Wendy Ng, is dedicated to resolving the global succession crisis. With a focus on acquiring strong companies from retiring business owners, AVARY Group is committed to delivering positive impact and fostering a family-driven working culture. The founders, with their diverse background and proven success in various industries, aim to make a difference in the lives of others both locally and globally.
Facts & Figures:
– Family businesses constitute 85% of Asia Pacific companies, contributing over 20% to the top 750 global family businesses’ revenue, totaling nearly $2 trillion.
– In Japan, 1.27 million small and midsize businesses face the risk of closure due to a lack of successors, with over 30% of family businesses expected to undergo changes in the next five years.
– Singapore and Australia mirror global challenges, with approximately 40% of SMEs owned by baby boomers.
– In the United Kingdom, 250,000 businesses with revenues between £500k and £10m are owned by individuals aged 60 and above.
– The scarcity of buyers exacerbates the crisis, with only less than 20% of companies for sale finds a buyer.
– In the United States, 3.2 million baby boomers retired in 2020, resulting in nearly 300,000 businesses being put up for sale, with only 30 to 40% finding suitable buyers.
– Australia faces a parallel scenario, with approximately 40% of the 65,000 SMEs owned by baby boomers.
For media inquiries, interviews, or additional information, please contact:
Alan Mak/Wendy Ng (LinkedIn: https://www.linkedin.com/in/alan-mak-tin-loon-0092534a/)