From trust to impact
Why family businesses need to act now to ensure their legacy tomorrow
of Malaysian family businesses expect to grow in 2021, 92% expect to grow in 2022
of Malaysian family businesses believe they have strong digital capabilities
of Malaysian family businesses have some form of ownership governance policy in place
of Malaysian family businesses have a developed and communicated sustainability strategy
The COVID-19 pandemic has forced many family businesses to adapt or get left behind. Many have shown resilience, but can they continue to stay one step ahead, and take on the unexpected challenges of the future?
In PwC’s Family Business Survey 2021 - the Malaysian chapter, we explore how family businesses in the country plan to move forward from the pandemic - our insights drawn from 49 interviews with key decision makers in local family businesses (out of 2,801 total interviews globally). The methods of the past are no longer enough to ensure business sustainability. A new approach is required, one based on accelerated digital transformation, prioritisation of ESG goals and professional family governance.
Family businesses need to act now if they aspire to build a solid legacy for future generations. But are they ready?