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Feb 26Van Campbell

Insights from PwC’s US Family Business Survey

Feb 26Van Campbell

Family owned businesses have unique characteristics, particularly in the areas of culture, ownership and succession.  The slides presenting PwC’s recent US Family Business Survey contained in the 2/4/2015 FEI Private Company Roundtable webcast do indeed provide some interesting insights about family owned businesses.

InsightsFromPwCsUSFamilyBusinessSurvey-1

 

52% of owners do not plan on passing the business on to the next generation to run

 

 

These interesting insights include:

  • 73% of surveyed businesses do not have a documented succession plan in place for senior roles
  • Family businesses are experiencing ‘Sticky Baton Syndrome’, where the older generation is reluctant to hand over full control to the younger generation.  56% of family business owners predict they will stay involved longer than they’d like to ensure a smooth leadership transition
  • 52% of owners do not plan on passing the business on to the next generation to run (including 7% that don’t know)

B2B CFO® partners and our networks of complimentary advisors can help family business owners prepare themselves, their family, their teams and their businesses for a successful and timely transition.  Please contact me to discuss how I and my network can help you.

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