Responding to COVID-19
How can you prepare your organisation to respond?
Entrepreneurial and Private Business
Your trusted business advisors dedicated to provide integrated business solutions that help you grow, manage wealth, fulfill your ambitions, plan succession and maintain your legacy.
As a private business, you play a pivotal role in economies worldwide. Behind the success of your family business is the indomitable entrepreneurial spirit, which spurs growth ambitions while being committed to the community. You are focussed on long-term strategic milestones - all of which are deeply rooted in your family’s values and that gives your business a unique competitive advantage. However, in today’s fast paced disruptive world, it can get challenging for your business.
That’s where PwC comes in. We are your trusted advisor who can help you to manage your ownership and growth at every stage, in a way that fits the needs of your business.
Our team of Entrepreneurial and Private Business (EPB) practitioners possess deep knowledge and experience in helping private businesses grow sustainably, enabling them to be future ready. We help you navigate the ever evolving business ecosystem and assist in achieving both business and personal ambitions.
How PwC is helping families and their businesses achieve their long term goals
Supporting private businesses during the COVID-19 pandemic
With the COVID-19 pandemic continuing to evolve, we understand your need to shift focus to reviving your business and adjusting to the 'new normal'. We have identified key areas of focus to enable you to make that shift - from effectively mobilising resources during this time, to stabilising business operations in the new environment and strategising for what's next.
Adapting to the new world
Facing the challenges of the post-COVID-19 landscape
PwC's COVID-19 Navigator
Assess the potential impact to your business and gauge your readiness to respond
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Developing a strategy to help manage, protect and grow your family wealth, both for current and future generations, is essential. This is all the more pressing today amid the increasingly complex and often duplicative tax regimes.
We can help with:
- Investment strategy
- Asset and wealth management
- Family office
- Privacy and security
- Tax and legal structure
- Fragmentation of shareholding
- Exit planning
- Philanthropy and impact investing
This encompasses governance both of your business and also of family matters. For your family business to flourish and grow sustainably, you need both to be right.
Questions to consider:
- Have you formalised business relationships between family members?
- Do you have a family advisory board?
- What about a family employment policy?
- Do you have a family constitution?
- Have you thought about setting up a holding company board?
- And what about family education?
As a family business, your values and purpose are an inherent competitive edge. You have an opportunity to generate real gains from your values and purpose, by adopting an active approach that turns these intangible attributes into valuable assets.
Questions to consider:
- Does your family have a shared mission and vision?
- Is this clearly formulated and communicated?
- Do you have a clear set of values on which business and investment decisions are taken?
- Are you active in philanthropy and impact investing?
- Are there specific mechanism/activities to promote and ensure family cohesion?
You don’t just think in quarters but in generations. Achieving a smooth and well managed succession of your family business is critical. An effective business continuity/succession process should include aspects from leadership and ownership, to values and purpose, to wealth management and stewardship.
Questions to consider:
- Have you started planning what happens next?
- Do you know what your next generation’s ambitions are for the future?
- Have you thought of an appropriate educational programme to prepare younger family members to become owners/shareholders?
The digital transformation of family-owned companies – like any other transformational change – should be ingrained into the owner’s strategy and built around the family’s shared, long-term vision and values. No matter where your business is on its digital journey right now, we’ll be at your side with the insights and solutions you need to stay fit for growth and moving forward at the right pace.
We can help with:
- Digital strategy and transformation
- Business model design
- Cultural change management
- Improving productivity
- Innovation
When it comes to managing and sustaining growth – whether organic or inorganic – family businesses face some distinctive challenges. While sustainable growth can be achieved in many ways, it is key to ensure that the chosen strategy is the right fit for your family business, in terms of long-term vision, control, values and readiness to embark on the growth journey.
We can help with:
- Deals
- Divestitures
- Managing for a downturn
- Cooperation with startups
- Growth
- New revenue models
- Sales and Marketing
- Pricing strategy
- Internationalisation
- Post-merger integration
We understand the importance of profit to fuel future growth and innovation, to motivate your family in owning the business, but most importantly, to pursue the businesses’ long term purpose and ambitions.
We can help with:
- Enterprise performance management
- Internal and external reporting
- Business intelligence and big data handling
- Efficiency improvements
- Cost optimisation
- Operational restructuring
For more than 160 years, we've helped privately-held businesses navigate victories, challenges, and opportunities to stand out and amplify what makes each unique. A large part of that comes from attracting, retaining and developing high-quality talent that can take your business to the next level while remaining aligned with the owning family’s values and ambitions.
We can help with:
- Leadership and board management
- Performance management
- Compensation and rewards (both family and non-family)
- Workforce of the future
- Talent development
- Diversity and inclusion
- Global mobility
Managing risk and complying with regulation in ways that mirror the underlying values of your family and business. When it comes to managing risk, the approach taken by family businesses is often deeply rooted in your values and purpose. This can give rise to complex scenarios due to the fact that the risks at hand often apply across both your business and family. Reconciling these sometimes conflicting agendas is challenging and requires a multifaceted and sophisticated approach.
How we can help:
- Optimising compliance
- Navigating global trade
- Risk management systems
- Control environment
- Cyber security
- Sustainability
- Tax compliance and planning
Effective management of your family business's capital and finances is key for sustaining growth. However, whilst maintaining a robust financial base for your business is key, it is also important to consider opportunities to tap into new sources of capital to fuel further growth.
We can help with:
- Capital and financing structure
- Financing of innovation and growth
- IPO and other third-party investing
- Bank reporting
- Treasury
- Working capital
Managing family ownership is one of the most unique and complex challenges which sets family businesses apart from any other type of business. It’s your life, your legacy, your future – not only for you, but for your next generation and the communities you operate in. We’re here to help you approach your ownership strategy with intellect and heart, focusing on four critical areas: wealth, governance, continuity and purpose and values.
Owner’s Agenda
Owners of family businesses have a wider outlook - balancing growth today while building a legacy for the future. We need to understand their vision and how they want their business to evolve. That’s why we’ve created the Owner’s Agenda, a framework and digital tool to harness PwC’s deep expertise to create the right approach for our clients’ goals, across both business and ownership issues.
Explore Further
Private Business
Growing a business can be demanding, exhilarating and intensely personal. You need a trusted advisor who can help you to manage your ownership and growth at every stage, in a way that fits the needs of your business.
We can help you spot opportunities for growth, manage risk, save money and create value for your business.
Family office
As your business moves into future generations - whether that is transitioning from one generation to the next for the first time or for the fifth time, you face several unique challenges. At PwC, we understand the challenges and are constantly investing in innovative solutions to help maintain and further leverage your family business advantage.
Start-ups & scale-ups
Every unicorn company began as a start-up, scaling up to become the successful business that it is today. As a start-up or scale-up, you envision to become the world’s next big brand in a sustainable way. We, at PwC, understand your ambitions, help you achieve your full potential, support you in your growth journey and keep you ahead of the curve.
High-net-worth individuals
As a successful family business owner, you need a strategy to protect your personal wealth and further structure it for growth. This is particularly the case within a global ecosystem characterised by increasing complexity and often duplicative tax regimes. We as your advisors not only know all the rules—but also know how they will be applied to your unique situation.
Next Gen - Our commitment to young entrepreneurs in family businesses
Family-owned businesses are the heart and soul of the Indian economy and by nature, also more challenging than their corporate counterparts. With the next generation joining the leadership board, these businesses are exploring new territories, new sectors and are also considering inorganic growth. When actions are strategically planned, family businesses are destined to succeed for generations.
Fast-forward to your future
What is needed for you to earn your license to operate – and drive change? In our 2019 Global NextGen study, almost 1,000 NextGens in 69 territories across five continents and 11 industries helped us to understand how you see yourselves and what support you need to help you achieve individual success. Drawing on those findings, we are delighted to introduce you to PwC NextGen 2020, founded on our commitment to supporting your journey as an entrepreneur and successor in your family business – every step of the way.
Explore Further
Family Business
Helping family businesses grow, prosper and professionalise to ensure continuity for future generations
Family Office
Working with family offices to preserve and then grow the wealth for current and future generations
PwC@Slush
Supporting the next wave of entrepreneurs as they take their business to the next level
Start-ups & scale-ups
From starting out to becoming a unicorn, we can help you become the company you want to be
NextGen Club
Connecting the leaders of tomorrow
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N V Sivakumar
Partner & Leader - Private & Entrepreneurial Business, PwC India
Tel: +91 (80) 4079 7001 | +91 98 4503 0010