US family business survey report

Download US family business survey report

Family businesses are a critical component of the global economy. Yet despite the importance of family-owned or controlled companies, the views of their leaders are seldom recorded.Earlier this year, the PricewaterhouseCoopers international survey unit conducted a survey of 1,454 companies in 28 countries. In the US report we highlight the views of the US companies that participated.Some of the key findings include:

• Roughly two thirds have grown in the past 12 months and as many expect orders to increase, although economic turbulence could curtail growth
• Their top challenges are market conditions, competition, government policy (the vast majority want to see tax rules simplified and/or their tax burden reduced), and recruiting talent from a shrinking labor pool
• Most companies reported little conflict, but the leading source of tension is the future strategy of the business
• One in four businesses expect to change hands within the next five years, yet only half have chosen a successor
• In terms of their legacies, almost half of those surveyed want to ensure the sustainability of their companies, and most want to pass on the business to the next generation