Future looks bright, say family businesses

Famil<!–>y businesses across Europe are feeling increasingly positive about the future, according to new research.

The latest European Family Business Barometer, published on 16 June, found that 71 per cent of respondents were confident about their business performance over the next six months, a 17 per cent increase on the last findings of the last barometer in December 2013.

Other positive indicators included 81 per cent of respondents saying access to finance was no longer an issue, up from only 51 per cent six months ago, and 75 per cent saying they were planning investment.

The survey also found that almost nine in ten businesses (87 per cent) said that maintaining family control of their enterprise was a key success factor.

That view was reinforced by the intentions of those respondents (49 per cent) who said they were considering a strategic change in their operations over the next 12 months.

Only seven per cent of that group were considering a sale, with the remaining 93 per cent planning to keep their business in the family.

The research was based on the responses of 710 family businesses across 18 European countries. It was carried out by European Family Businesses, a federation of national associations representing long-term family enterprises, and KPMG.

Palmers’ expertise in working with family businesses enables us to provide expert advice to support strategic planning, including succession planning for a smooth transition of leadership, either internally or externally.

We can also assist on issues including shareholder and partnership agreements and with family dispute resolution. For more information, please visit our website or contact BJ Chong.