Our annual survey this year received 1,576 responses from family businesses in 26 countries in Europe, including for the first time, from Ireland. Their responses reveal a continued confidence in the future of their businesses and family ties to the business.
In Ireland and across Europe, family and privately owned businesses face challenges on many fronts. They’re engaged in global competition to attract talent with specialised skills. An increasingly challenging regulatory environment has meant they can no longer depend on conducting business as usual. Growing political uncertainty combined with an unprecedented rate of change has left many businesses pondering what could be just around the corner. Despite these factors, family businesses continue to flourish.
Family business owners have traditionally kept an eye on the long term. The new reality requires these businesses to balance their instinct for long term planning with an agile approach to tackling the latest disruptive innovations. For many, that will mean embracing innovation to forge new paths in new, untapped markets. The foundation of their ability to overcome obstacles and find success will be through leading with their core values.