Family Business Association forms alliance partnership with KPMG New Zealand

Family Business Association (FBA) and KPMG New Zealand (KPMG) are proud to announce an alliance partnership to strengthen support for New Zealand Family Businesses

Family businesses are integral to the economic and social fabric of New Zealand, representing a staggering 75 per cent of all businesses, contributing approximately 65 per cent to GDP, and employing around 75 per cent of the workforce. Notably, the agriculture sector, which is pivotal to the nation's economy, is predominantly made up of family-owned businesses.

Family businesses face distinctive challenges and opportunities, requiring tailored expertise to grow and thrive.

FBA is the peak body for family businesses in New Zealand and Australia. Uniquely family business focused, FBA helps members navigate the nuanced intersection of family dynamics and business operations, supporting the wellbeing of the family unit, the employees and the business’s success through generations.

KPMG offers families expertise and support to help them navigate the operational and often emotional nuances of being in business together. From general financial advisory and strategic planning, through to their specialised Family Business Dynamics programme, Family Office structures, and succession planning services - KPMG helps families create sustainable success across multiple generations.

Charlotte Bowan, General Manager of Heartland Potato Chips, a second-generation family business based in Canterbury, is an FBA member and long-time KPMG client. She says the partnership brings together two organisations aligned in their values and purpose to support family business growth and longevity across New Zealand.

KPMG advisors have worked with the Bowan family since 2017. Their agriculture and retail expertise has been invaluable to the once potato growers, who now have an established paddock-to-packet business.

"Our growth has been a direct result of the local support and the connections we make through our Accredited Advisors at KPMG and organisations like FBA," explains Charlotte. "We have been so grateful for the business support from those who understand the uniqueness of family businesses, know us personally, understand our operations and can work with us to make progressive business decisions that benefit the business and the family.”

Ms Bowan said FBA membership has provided the “benefits of a connected support network. Even though we may all be from different backgrounds and industries, we can all relate to what it’s like to work in a family business and learn from each other’s approaches and experience”.

Catherine Sayer, FBA CEO, expressed her enthusiasm for the partnership, "We are thrilled about our partnership with KPMG and the immense value it will bring to our New Zealand members. We have already seen the positive impact KPMG has on family businesses through our strong partnership in Australia. By joining forces in New Zealand, we can provide unparalleled support and resources to all FBA members, enabling them to achieve sustainable growth and long-term success."

Echoing Sayer, National Managing Partner for KPMG Private Enterprise, Jon Holmes, shared their commitment to supporting family businesses. "New Zealand family businesses are integral to our economy and culture, and they have a significant impact on every part of our economy. With dedicated support and expertise from both KPMG and FBA, we will make possible happen for more family businesses and accelerate our KPMG purpose to Fuel New Zealand’s Prosperity.”