Long-term goals, meet short-term drive
Global family business survey 2019
Family businesses tend to lean toward a long-term view rooted in shared values, vision and culture, which can help them maintain family control over years. However, family ownership, by itself, doesn’t guarantee a business’s longevity.
In the survey, Deloitte interviewed 791 executives from 58 countries about the challenges and opportunities they are currently facing.
- Retaining family ownership is one of the key elements of their long-term goals, yet only 41 percent feel confident in their plans for succession.
- 68 percent of surveyed executives intend to keep the business in the family; however, slightly more than one-third of respondents would trade at least some measure of family control over the business for even greater long-term financial success.
- 35 percent of respondents hold formal family meetings, and an additional 44 percent hold informal family meetings
- More than 70 percent of respondents say their strategy looks two to five years ahead
- Only 35 percent of respondents said that business objectives align with family goals
- Less than one-third of respondents (30 percent) say their families agree about the business’s future development
- With respect to governance of the business, about one-third of the respondents reported that a majority of their board members were non-family members