PwC investigates why family businesses need to act now to ensure their legacy tomorrow.
- 2,801 senior executives interviewed across 87 territories
- 64% expect to grow in 2021, and 86% expect growth in 2022
- 37% have a sustainability strategy in place
- 39% say their digital capacities are strong
“If family businesses want to get to the sweet spot where competence and ethics converge, it requires a change of mindset, a rethinking of their priorities and behaviours and a new definition of legacy.”
–Peter Englisch, Global Family Business Leader, Partner, PwC Germany
The unprecedented, tumultuous events of the past year have presented family businesses with enormous challenges. And although many have demonstrated significant resilience amid the crisis—the rapidly changing state of the world has served as a wake-up call for family business leaders looking towards the future.
In our 10th PwC Global Family Business Survey, we reveal the current thinking—and future outlook—of 2801 family business leaders across 87 territories. Our findings show that it’s no longer enough to rely on values and legacy to propel the business forward. Tomorrow’s family business requires a new approach for lasting success—one based on accelerated digital transformation, prioritisation of sustainability goals and professional family governance.
Download the full report here.