This is what’s holding Singapore family businesses back from growth

SINGAPORE (Nov 2): The growth outlook for Singapore’s family businesses is looking grimmer than ever.

According to the latest global survey by PricewaterhouseCoopers (PwC), Singapore family businesses reporting sales growth have hit a low of 47% this year, down almost a third from 72% in 2014.

PwC’s biennial study, entitled ‘The Missing Middle: Bridging the strategy gap in family firms’, interviewed 2,800 family businesses across 50 countries with turnovers ranging from US$5 million to over US$1 billion ($7 million to over $1.4 billion).

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