Welcome to the 8th PwC Family Business Survey. We’ve spoken to firms approaching their first generational transition, and those that can measure their longevity in centuries. We’ve talked to founders, next gens, and professional CEOs. We discussed global megatrends such as digital and globalisation, and the challenges of ‘keeping it in the family’.
The sector is bullish about the future with 93% expecting to grow and 18% expecting to grow quickly and aggressively.
Despite the relatively steady outlook, growth forecasts could be curtailed by an organisation’s lack of strategic planning rather than by economic or other external factors.
In this year's survey, many of the issues facing family business come back to a lack of strategic planning – the ‘missing middle’ – namely having a strategic plan that links where the business is now to the long-term and where it could be. Not only is it limiting their ambition to expand and grow, and wider contribution to economies, but it could expose them to additional risk they have not effectively planned for.