Australian family businesses are working hard to find and sustain growth in a challenging market as well as trying to adapt to the dynamic global trends changing the face of business: digital and technological innovation, succession and rejuvenation, the managing of conflict with the family business and the innovative use of capital for growth and development. Australian family businesses are on the cusp of major change. How they deal with it will help shape their future. There is work to do, but Australian family businesses are resilient and remain confident of meeting the challenge.
Phone: +61 (3) 8603 1201
Phone: +61 3 8603 3183
Family Businesses in Austria believe that they play a vital role in their country’s economy but are concerned about the general economic situation. They see agility and being entrepreneurial as key advantages over non-family businesses. But many recognise disadvantages too as i.e.reduced access to capital. Austrian Businesses place strong emphasis on ensuring the business stays in the family and are less concerned with fast growth.
Dr. Rudolf Krickl
Phone: +43-1-501 88-3420
Phone: +32 4 220 62 46
Phone: +32 9 268 83 03
Family businesses in Brazil have grown more than the global average over the last year and are bullish about future growth. However, they are particularly concerned about the general economic situation, the need to innovate and control costs to stay competitive.
Phone: + (11) 3674-3850
Phone: + (11) 3674-2337
Canadian family businesses continue on their path to steady, measured growth and they are 100% confident they will achieve it. However, in this technologically driven and disruptive economy, family businesses will need to invest in people, technology and systems that will allow them to be competitive. It’s time to professionalize all aspects of the business--a fact that global family business leaders appear to accept more readily than Canadian family business leaders.
Visit www.pwc.com/ca/familybusiness for more information and to download a copy of the report 2014 - launching on Oct. 23, 2014.
Director, Centre for Entrepreneurs and Family Enterprise
Phone: +1 (604) 806-7583
Phone: +(416) 941-8299
The German family businesses have performed relatively well over the past 12 months, and they are aiming to grow in the next five years, both in domestic and foreign markets. Although very confident they will achieve their growth target, family businesses in Germany will need to focus on innovation and strategies to attract the right skills and retain staff to ensure company's long-term future.
Dr. Peter Bartels
Phone: +49 211 981-2176
Indian family businesses have performed relatively well in the past year and nearly 50% are expecting bullish growth. Indian family enterprises are focused on growth and are keen on professionalising as well as adopting new digital technologies to achieve significant progress. Indian family businesses are, however, significantly less likely than their counterparts around the world to foresee challenges in the next five years. They see regulatory compliance and the need to professionalise as priorities.
Indraneel R Chaudhury
Phone: +91 (0) 80 4079 6001
Italian family businesses experienced slowed growth last year, and aim at achieving more in the future, along a steady and sustainable path. Innovation (diversification and new export markets) is of paramount importance, involving new technologies as well as supply chain partnerships. Retaining talents and attracting new ones stay crucial as well as professionalization, in fairly cohesive and less conflicting businesses. Sustainability target requires cost discipline to improve profitability and price competitiveness, rigorous cash management and availability of finance. Comply to different jurisdictions worries Italian family business leaders, exposed to an increasingly international environment.
Growth over the last 12 months
Growth plans for the next 5 years
Key challenges (innovation, talent, digital etc)
Exporting and foreign markets
Family conflict provisions
Phone: +39 02 80646325
Phone: +39 0521 242848
Growth is strong and prospects are bright, say family business and private company leaders in Kenya. They believe that companies like theirs benefit from agile decision-making and an entrepreneurial mind-set, particularly when they focus on strategies to support long-term sustainability, professional management, skills development and innovation. This focus helps to offset some risks to growth like economic and political instability and inadequate access to skilled labour.
Phone: +254 (2) 285588
Family firms in Malaysia had proven resilient with more than half of them recorded growth in sales in the last year. However with the upside of the scale, there is also downside where they are faced with concerns surrounding external factors like market conditions, government regulation, exchange rates, and internal factors especially staff recruitment. The focus now is being drawn to professionalising the business and family, by bringing in professionals to run the family firms and preparing the NextGen to become effective owners. The Malaysian environment is set to change while family firms transition beyond the second and/or third generation.
Fung Mei Lin
Senior Executive Director
Phone: +60 (3) 2173 1505
Phone: +60 (3) 2173 0626
Family businesses in Malta recognise their importance to the economy and in creating employment. However, compared with 2012 they appear to be struggling to continue to support community initiatives, retain their stronger values and retain staff in tough times. They see competition and containing costs as challenges to growth, alongside the need to continually innovate. There is an increased focus on company re-organisation and succession planning, In fact, over the next few years just under half of Maltese family businesses plan on passing on ownership to the next generation and to bring in professional management.
Visit http://www.pwc.com/mt/en/publications/family-business-survey/index.jhtml for more information.
Phone: +356 2564 7601
Phone: ++356 2564 7011
Mexican family business have performed financially well over the past year and aim to continue with the growth synergy. Although this is very important to all Mexican family businesses, they will need to focus more on professionalize, re-organise, innovate and develop as businesses.
Juan Carlos Simon
Phone: +52 55 5263 8532
Family businesses are essential for the Dutch economy and they are less deterred by economic unrest, because they take fewer risks and are more focused on the longer term. In addition, family businesses are more innovative and of great importance to employment. In the areas of financing, succession, digitalisation and human capital, however, there are a few bottlenecks which require the attention of both society and the family businesses themselves.
From society’s point of view it is crucial that Dutch family businesses continue to be strong and healthy. For this reason it is time that both the family businesses themselves and the wider society pay attention to the specific problems faced by this important group.
Visit www.pwc.nl/familiebedrijven for more information or to download the Dutch report.
Renate de Lange
Phone: +31 (0)88 792 3958
Phone: +31 (0)88 792 3630
Phone: +31 (0)88 792 6623
Family businesses in New Zealand have grown more than the global average over the last year and are more bullish about future growth. This seems to be driven by a relative optimistic view of the economic situation compared with other markets. Instead, family businesses will need to focus on the need to innovate, attracting the right skills/talent and complying with regulations to grow and compete effectively in the long term.
Phone: +64 9 355 8036
Family Businesses in Nigeria have seen similar growth levels as the world as a whole over the last year. However, they are more bullish about future growth with 25% aiming to grow quickly and aggressively over the next five years (vs. 15% globally). The key challenges to growth will be staff recruitment, government policy/regulation, market conditions and the threat posed by political instability.
Phone: +234 (1) 271 1700 ext 6202
Phone: +234 (1) 271 1700 ext 6208
The situation among Peruvian family businesses resembles very much the results obtained globally, in terms of the growth they have been experimenting over the past years. They also regard their future growth with the same optimism. We are proud to state that two-thirds of family businesses in Peru grew over the past year, and a total of 81% of them is expecting to continue with this tendency to grow over the next 5 years.
Bartolomé Ríos Hamann
Phone: +511 211 6500 - An. 2014
Even though there has been strong growth in the last year, family businesses in Romania are cautious about the future, with worries about the general economic situation and increased competition. Their priorities are clearly set out – the long term future and success of the business come first. Family businesses believe they play an important role in the economy and society, including job creation and adding stability to a balanced economy.
Visit www.pwc.ro for more information.
Phone: +4 021 225 3614
Russian private and family businesses have performed well over the past year and most of them intend to grow steadily or even aggressively in the next five years. However, the main challenges to their growth in the near future include recruiting talent, government policy and regulations, and the overall economic situation, as well as the need to focus on profits and margins.
Phone: +7 (495) 967 6250
Singapore family businesses have performed relatively well over the past year and a fifth plan to grow quickly and aggressively over the next five years. However, growth ambitions are lower than was found in 2012 with many being cautiously optimistic against the backdrop of a tougher economic environment.
It is anticipated to be a highly competitive market in Singapore for family firms and increasingly international in the years ahead. Many strive to ensure a long term future for the firm and feel that running the business professionally and injecting greater innovation will help to achieve that goal.
Ng Siew Quan
Phone: +65 6236 3818
For the second time, PwC in cooperation with Ing. Monika Krošláková, PhD. from the University of Economics in Bratislava and daily newspaper Hospodárske noviny has prepared an up-to-date picture of conducting business in Slovakia.
Private sector in Slovakia in 2014:
Phone: +421 2 59350 587
Phone: +421 2 59350 419
South African (and global) family businesses remain resilient despite the adverse global economic environment they find themselves in post-recession. Significant challenges facing family businesses continue to focus around shortages of skills, the need to innovate, political instability, price competition and the containment of costs.
National PCS Leader
Phone: + 27 12 429 0600
Spanish family businesses are more optimistic than global about the future of their companies; 92% of the Spanish respondents versus the 70% of the global sample believe that their companies will grow in the next five years. Nevertheless, Spanish family businesses are very conscious of the big challenges they must face in order to accomplish with this ambitious goal. Becoming more international, acquiring the capacity to evolve at the same pace as the rest of the market, adapting to the new digital era and taking advantage of the new global trends are some of the essential tasks that they pointed out in our survey.
María Sanchiz Suarez
Partner of PwC Spain
Phone: + 34 915 684 715
Phone: +46 (0)709-292583
Family businesses in Switzerland are facing challenges such as a lack of skilled workers, competitiveness, market access and digitalisation. This was the result of a survey of around 125 family-owned companies in Switzerland that PwC conducted as part of the global Family Business Survey 2014.
Shortage of skilled workers as main concern
Vigilance regarding competitiveness
Concern about the price war
Sights set on market access
Digitalisation offers operational development potential
Dr. Marcel Widrig
Head Private Wealth Services
Phone: +41 58 792 44 50
Taiwanese family businesses are more optimistic than the global average about future growth, but they are also realistic about the challenges they will face in achieving that growth. With fierce competition expected, Taiwanese companies are focused on the need to professionalise and innovate, as well as retain and attract staff, if they are to achieve the growth they hope for.
Phone: +886 (0)2 27296666 26613
Phone: +886 (0) 2 27296666 25226
UK family businesses are finding it tougher to compete in the post-recession climate, and are acutely aware of the need to keep pace with the speed of change in an increasingly fluid and disruptive environment where innovation is key and skills are scarce. Many are responding by professionalising the way they operate – from systems and processes, to corporate governance. But there remains a significant challenge which many have not addressed, and that is to professionalise the family as well as the firm, especially in relation to succession planning.
Visit pwc.co.uk/familybusinesssurvey for more information and to download a copy of the report.
Phone: +44 (0)1223 552226
Phone: +44 (0)207 213 5030 | Mobile: +44 (0)7711 733985
US family businesses have been faring well, with strong growth in the past year and even stronger growth expected ahead. They recognize, however, that to thrive in today’s ever-more-competitive landscape, they’ll need to out-innovate their peers and get the right people on board – an increasingly tough challenge in a world where business as usual is no longer enough.
Phone: +1 (415) 498 6111
Phone: +1 (617) 530 4323