Succession & forward planning remain key challenges for local family businesses: PwC

SINGAPORE (Nov 14): While family businesses in Singapore are optimistic about growth and have a strong desire to keep their businesses in the family, few have ensured that plans are in place to achieve these objectives.

This is according to the Global Family Business Survey 2018 released by PricewaterhouseCoopers (PwC), which found that the family businesses surveyed in Singapore to grow in the next two years.

More than half of Singapore respondents also said they were involving next-gens in their leadership team (63%) and senior executive roles (53%). This comes in significantly higher than the regional and global responses which stand at 48% in Asia Pacific and 43% globally in leadership, and 38% in Asia Pacific and 36% globally in senior executive roles.

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