The family constitution is an important document for any family business and any family to engage in the process of formulating, because it provides a basis for the family and how it will essential interact with the business...
Through the bi-annual Family Business survey, KPMG and FBA combine to offer a snapshot of the health of 'family business' in Australia. What emerges is that parallel planning is essential. It’s not an event; it’s a process.
It’s critical that leaders in family business pay attention to the priorities of both the family and the business, yet only 55% of the family businesses surveyed in KPMG in Australia’s and Family Business Australia’s 2013 Family Business Survey.
Few people enjoy conflict – whether it be some form of confrontation or even just voicing disagreement – but sometimes conflict can be the catalyst that brings longstanding issues to a head, and then they’re aired and actually dealt with, to be resolved.
According to KPMG in Australia’s 2013 Family Business survey, 83% of respondents believe that being a family business has made a difference in coping with ongoing economic uncertainties.
It’s no secret that Australian family businesses are facing a tough economic environment.
According to the 2013 Family Business Survey jointly undertaken by KPMG and Family Business Australia, Australian family business owners see themselves as more adaptable and resilient to market conditions.
In 2011, KPMG in Australia published the Family Business Survey, Stewards: Moving Forward, Moving Onward. The study explored a cross section of 658 family enterprises across Australia, most of whom believed in the need to innovate.
It's about the structures, frameworks, controls, accountabilities and responsibilities that together help a family business meet its strategic objectives and manage risks.