Family businesses that communicate with each other, share ideas and harness the wisdom of older generations with the forward-thinking drive of subsequent generations, are more likely to be successful, says the 2018 Family Business Survey from KPMG Enterprise and Family Business Australia (FBA).
Successful family businesses build strong foundations that focus on communication, and highlight the emotional as well as the economic wealth of the family. This is the first survey anywhere in the world to canvas simultaneous viewpoints from two generations, both the current business leader and the next generation.
“The best outcomes are achieved when a balance is achieved between the business’ financial performance and the positive relationships the family establishes both with each other and their communities.”
“Nearly 22 percent of future leaders viewed poor family member communication as the number one source of conflict.”
Michelle De Lucia