Eighty percent of the companies in Austria are family businesses that employ around 70 percent of all employees.
The advantages of family businesses are clear: they have a more long-term thinking, are more traditional. Stronger endeavors and a more pronounced identification with the company also characterize family businesses.
However, there are also risks: succession planning and the danger that conflicts in the families will be carried into the company. For this reason, governance in family businesses is of particular importance. KPMG offers valuable support with a comprehensive range of consulting services - from a tax and business point of view – and know-how.
Special needs of Family Businesses
The needs of Family Businesses resulting from the interaction of family, property and business are:
- Succession Planning
- Estate Planning