When most people think of a “family business”, their mind instantly turns to some version of a little corner shop, most likely run by a husband and wife. If not that, as there are famous examples of very successful family businesses, then most would at least assume a few key characteristics about the business model.
The low interest rate of recent years has created a very favourable environment for owners of family businesses to transfer ownership to the next generation without incurring high transfer and interest costs.
New KPMG study shows nearly 60% of family owned businesses are struggling to find external finance to fund investment
A new KPMG global survey has found that 58% of family businesses are currently seeking external financing to fund their investment plans, but finding the right strategic investment partner can be challenging. While family businesses create more than 70% of global GDP, many say they find their fundraising options limited.
Family owned businesses are not just a South African phenomenon. There are many leading international brands that have started as a family concept, and have established themselves through the generations.
KPMG, in association with the Nelson Mandela Metropolitan University Family Business Unit, hosted its first one day Family Business Conference for members of family businesses to discuss some of the challenges they face. The topics discussed were leadership transition (succession), managing governance in a family business and how family businesses can expand into Africa.
Communication is the sending and receiving of messages. However, often we focus more on the sending part: “we need to communicate more” is misconstrued as meaning “we need to give more information”. But to foster effective inter-personal communication, attentive listening is paramount.
KPMG Partners discuss Philanthropy in the family business.
KPMG Family Business Global Survey
KPMG Family Business Think Tank
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KPMG International survey has found that 58 percent of family businesses are seeking external financ [...]