What do family business leaders think about when they are looking to hand over the business? How are they going to achieve growth? What global trends are they most worried about?
We interviewed 2400 family business managers and owners in 40 countries to find out.
The interviews were conducted in Australia, Austria, Belgium, Brazil, Canada, CEE (Bulgaria, Hungary, Latvia, Poland, Slovakia), China, Denmark, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Kenya, Malaysia, Malta, Mexico, Middle East (Jordan, Oman, Saudi Arabia, , UAE), Netherlands, New Zealand, Nigeria, Peru, Romania, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, UK, US
Explore the data to see the detail behind these trends:
How to read these charts: Select a view of the data using the module on the left. Hover over the data segments in each chart to reveal specific percentages.
Aggressive growthOpen / Close
Family businesses in high growth markets are looking for quicker and more aggressive growth
ProfessionaliseOpen / Close
The need to professionalise the business is more important in Western Europe and North America
Re-focused prioritiesOpen / Close
Family businesses are re-reprioritising, ensuring the long term future of the business is top of the list
ExportsOpen / Close
International growth opportunities are important but there are some big differences by country
International salesOpen / Close
68% of family businesses have international sales at the moment. In 5 years' time this is expected to rise to 76%
A difference of opinionOpen / Close
Do next gen have to work harder to prove themselves? Are the properly appraised? Are they given preferential treatment?
Conflict resolutionOpen / Close
Family members recognise the need to minimise the risk of conflict in a family business
Next of kinOpen / Close
Choosing a successor can be a daunting task. 65% of businesses we spoke to have yet to name their successor.
A plan or an idea?Open / Close
50% of respondents claim to have a succession plan in place but only 1 in 6 can say it’s robust and documented
Size mattersOpen / Close
Size not company age or maturity appears to dictate how well prepared family businesses are for succession.
Passing it onOpen / Close
Fewer than half of all family businesses plan to pass the business fully (ownership and management) to the next generation
Communication is keyOpen / Close
Most owners agree that they will stayed involved in the business after handing over the reins. There is a big difference between what they think and what the successor thinks
The importance of digitalOpen / Close
the majority of family businesses understand the importance of embracing digital
Understanding the tangible benefits of digitalOpen / Close
Family businesses in Romania and China are more likely to feel they understand the tangible benefits of moving to digital
Transforming business – the top 3 trendsOpen / Close
Technological advances and to a lesser extent a shift in global economic power are seen as two key global trends
What trends are important and whereOpen / Close