Succession top of mind as business families eye their legacy. Report surveys more than 1,600 family businesses owners across Europe.
Report surveys more than 1,600 family businesses owners across Europe.
Europe’s family businesses remain positive about the future at a time of rising economic and geopolitical uncertainties. Innovation, training and education, and diversification are key priorities as they adapt to a fast-changing world –while planning for succession is increasingly on families’ minds.
These are among the key findings from the eighth European Family Business Barometer, a survey of Europe-based family businesses produced by KPMG and European Family Businesses (EFB). Researchers surveyed 1 613 family business executives in 27 countries across Europe for this year’s report.
“Despite the critical global issues, naming recession fears, rising populism, geopolitical uncertainties, Brexit and climate change, both family businesses in Greece and in the rest of Europe remain positive about the future and send a powerful message of their ability to overcome adversity. Through reinvesting profits in the core business, people, new technologies and innovation, they are preparing to successfully navigate challenges posed by the new economic and business environment. However, along with the business issues, family businesses should also focus on family dynamics and tackle the complexities of family relationships, protecting the long-term interests of the business and at the same time bring harmony into the family” says Vangelis Apostolakis, Deputy Senior Partner, KPMG in Greece.