Discover what's impacting Australian family businesses... of all sizes, across every industry, throughout the nation - and why they're our constant performers: adaptable, resilient, sustainable.
The majority are outperforming competitors in product and service quality, growth, productivity, innovation and financial performance.
Eighty-three percent believe being a family business helps in surviving economic uncertainty.
- values and shared ethos
- family support network
- vision and strategy
- strong brand
- customer service.
70 percent – personal challenge and rewards.
63 percent – family independence.
61 percent – recognition and respect in the community.
- balancing family and business issues – 72 percent
- maintaining family control of the business – 67 percent
- preparing and training a successor – 64 percent
- visions, goals and strategy
- decision making
- managing growth
- competence of family members
- financial stress.
Thirty percent use family gatherings to manage conflict.
72 percent believe the business successes are the employees’ successes.
84 percent believe family values have a considerable or major impact on how their business is operated.
“Our people really like working in a family business... they share our values and are committed to our business”
Family business owner
One third of family business believe family issues have an equal or greater influence over performance than business-only issues.
Family firms with formal advisory boards perform better than those without.
Fifty-five percent have formal governance mechanisms in place to complement their management teams.
In larger businesses, 51 percent of non-executive directors are non-family members.
One third are exit or succession ready.
Two thirds intend on passing the business to family members.
20 percent of CEOs are 65-plus years old.
41 percent of CEOs don’t have a retirement plan.