Committing to family values
89% of Indian family businesses feel they have a clear sense of the agreed values and purpose as a company.
PwC India Family Business Survey 2019
Powerhouses of opportunity
Family businesses in India have ambitious growth aspirations. However, they need to ask themselves some crucial questions: Are they are ready for growth? Do they have their mind set on innovation and digitisation to gain a competitive edge? How will they fund their growth? How are they embracing digital and other technological changes which will impact the business? Are they exploring professionalisation of operations? Do they have a family charter/constitution in place to manage family conflicts and ensure family dynamics are in sync with business objectives? How will they ensure business continuity and are succession plans being discussed openly within the family, particularly with the next gen?
Find out about this and more in our Family Business Survey 2019
Conducting business in India has never been more exciting and daunting at the same time. Paradigm shifts on the regulatory, operational and technological fronts are driving business heads to continuously innovate their products or services and become more perceptive and agile in order to stay relevant. Family businesses have a unique approach of looking at their businesses over generations and as an investment for the future, which ensures a long-term perspective with respect to decision making and provides stability to the economy.
Explore survey themes
Business Performance
76% of family businesses exhibited growth over 12 months, 89% expect to grow in the next 2 years
Business challenges
Innovation and accessing the right skills are the two biggest challenges facing family businesses.
Underestimating digital & cyber disruption
Only 30% of family businesses feel they are vulnerable to digital disruption and cyberattacks.
Looking at the next two years
64% will make significant steps in digital capabilities and 63% will bring in experienced professionals.
Succession and Business Continuity
Only 21% of family businesses in India have a robust, documented and communicated succession plan in place
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Contact us
Ganesh Raju
Partner and Leader, Entrepreneurial and Private Business, PwC India
Tel: +91 80 4079 6008
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