Family Business Survey 2007/2008

Making a difference: The PricewaterhouseCoopers Family Business Survey 2007/2008

November 2007

Managing change through effective planning is crucial to the health of a family business as it faces the challenges of future ownership, talent management, recruitment, remuneration and tax planning, according to the 2007/2008 Global Family Business Survey released by PricewaterhouseCoopers LLP.

Until now, very few attempts have been made to gauge the opinions of the leaders of family businesses worldwide. Our first global Family Business Survey aims to redress this omission. PricewaterhouseCoopers advises numerous family firms, many of which are expanding beyond their national roots. Recognising this, our survey helps us to learn more about their opinions, intentions and expectations, enabling UK family businesses to find out how their views compare with those around the globe.

The report includes the results of our survey conducted with 1,454 family businesses across 28 countries, with a separate report for UK family businesses.

Here are the UK highlights:

• Confidence among family businesses in the UK is high. In the past 12 months 67% of UK companies have reported a growth in the demand for their products and services.
• However, poor succession planning could leave the future of UK family businesses in doubt
• Recruitment of skilled staff is one of the biggest challenges over the next twelve months.
• UK family businesses are almost twice as concerned about government policy, regulation and legislation than their global counterparts.
• Simplification of business tax is the most important of the government reforms.

PricewaterhouseCoopers family business network

In the family business sector, we focus on the issues of family businesses through our lines of service and industry-specialised groups, providing a fully coordinated approach in dealing with business family affairs. Our advice combines industry insight with technical knowledge to help family business owners deliver the right solutions for their family-owned organisations. We provide family businesses with bespoke advice on issues ranging from governance through to re-organisation and tax planning.

Family owned-organisations are a very important part of our client base. To find our more about what we could do for you and your business, please contact Paul George.