Details

Service: Private Enterprise, Family Business, Family Advisory, Governance, Succession Planning
Type: Survey report
Date: 17/08/2011

Family Business Survey 2011

KPMG and Family Business Australia’s biennial survey has found that maintaining control of the family business is the highest priority for more than 60 percent of family business respondents. The survey, run in May 2011 with 658 family enterprises from across Australia, was designed to seek knowledge and understanding about family businesses, their owners and the attributes that equate to their success.

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Other key findings

Fifty-nine percent find balancing family and businesses interests to be their highest priority
The future strategy of the business was ranked as the most likely cause of conflict
Fifty-seven percent of incumbent respondents are concerned about the motives of their potential successor
Sixty-three percent admit some concern about the ability of their successor
Forty-six percent of respondent businesses have a board in place
Twenty-three percent coordinate an independent review of their management team.

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