The road to leadership has been a long and winding one for many women in business. And for women in family businesses, that road has had its own unique twists and turns. The important role that women play has not been in question, particularly their stabilizing influence within the family and their ability to perpetuate the family’s values and traditions. However, while these roles are important for creating harmony and extending the family’s legacy, their contributions have often been quietly hidden inside the family business.
KPMG Private Enterprise wanted to gain some firsthand insights into the dynamics of today’s family business environment. To this end, KPMG Private Enterprise and the STEP Project Global Consortium collaborated on a global family business survey among more than 1,800 family business leaders globally. The survey was then followed by in-depth interviews with members of selected family businesses to gain their practical insights on the ways in which changing demographics are influencing their family business practices. These insights on topics such as succession, governance and legacy are being published in a series of co-authored articles dedicated to empowering the future of family business, which can be found on the KPMG Private Enterprise website.
KPMG Private Enterprise and the STEP Project Global Consortium were particularly interested in hearing about the impact that different generations of family members might be having on the strategic direction, mindset and leadership approach of their family firms. During several discussions on this topic with family business leaders and their families, a recurring theme appeared: there is a new generation of women who are expanding their roles in many family businesses and many are changing their firms’ trajectories.