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Survey: 86% of the family businesses estimate the growth of the business starting with 2022
The owners of family businesses are optimistic regarding the evolution of their company in the next two years, 86% anticipating that they will come back to the rates of growth before the pandemics until 2022, while 80% of the family businesses intend diversify their portfolio or to extend on new markets, according to the survey ‘Family Business Survey’, made by PwC at global level.
In the context of the sanitary crisis, only 28% of the interviewees estimated growth for the sales in 2020, and 46% drops.
‘The pandemics was a real test for endurance for the companies in all sectors. The big family businesses have supported relatively well and adapted to the situation and now the majority see the future with trust. However, there are two strategic directions which they have to continue to improve during the period to come: the digital transformation and the sustainability strategy, social and environment projects’ stated Mihai Anita, partner PwC Romania.
As for the measures taken during the pandemics, 80% of the interviewees allowed their employees to work from home and a quarter redefined their production to answer the demand in the pandemics. One third of the family businesses had to reduce their dividends and only 20% needed supplimentary capital.
In the top of the top of the next two years there was the extension on new markets / cliens segments (55%), the improvement of the digital capacity (52%), new products/services launching (50%), the growth of use of new technologies (49%) and the rethinking of the business model (39%).
Other conclusions of the survey show that 64% of the interviewees expected the growth of the business in 2021 and 86% estimate growth for 2022.
58% say that all the members of the family have similar opinions about the direction of the company and only one out of four interviewees (23%) did not have any disagreement.Thus, although they report good levels of trust, transparency and communication, the survey shows the necessity of clear policy for the solutions to the conflicts, only 15% having strategies in this sense.
At the tenth edition, the survey PwC Global Family Business Survey was made among 2,801 leaders of family businesses out of 87 territories, including Romania. The data for Romania will be published during the period to come.
PwC is a network of companies present in 155 countries with more than 284,000 professionals who offer services in the domain of audit, fiscal consultancy and business consultancy.