Family Business Global Report 2015: Do Family Businesses across the globe have difficulty planning long-term?
14 October 2015
A successful transition of business and wealth is the ultimate strategic direction for every family enterprise. Yet, as folklore and studies of both would suggest, the majority of family businesses fail to effectively sustain these two important assets beyond two generations.
With this in mind, BDO’s Global Family Business group took both a qualitative and quantitative approach to examining 13 key areas of the family enterprise to identify the typical roadblocks and the most common building blocks for business continuity. The report shares the results of six years of research into family, business, and ownership issues facing Canadian families as compared with the findings from a preliminary study of family businesses in the UK, Europe, Asia, Australia, New Zealand and USA.
The study first compared and contrasted the viewpoints of almost 1,000 stakeholders from over 175 Canadian family enterprises to identify the most common roadblocks and building blocks. These common roadblocks and building blocks resulted from best practices in the family, ownership and business circles.
This data was then compared to the input garnered from international family businesses to identify any global trends and determine if there is truth in the statement that family businesses across the globe have difficulty planning long-term.