Family businesses continue to demonstrate strength and durability in the face of economic disruption and threat of a recession. With a focus on adaptation, diversification and ESG, family businesses are well placed to thrive despite the economic turbulence.
So, what have we gathered so far in 2023?
KPMG Private Enterprise’s Global family business tax monitor highlights many of the biggest risks and priorities driving succession, investment, and business planning for family businesses in 2023 and the years to come. Has your business collectively defined the purpose of its wealth and what success looks like?
Family businesses are adapting as the world around us changes constantly. Could the next generation be leaders of redefining the meaning of wealth itself in the years to come?
The rising cost of living, high inflation, and potential recession have been persistent hot topics. We share some of the questions family businesses have raised around a need to de-risk amidst economic uncertainty.
Innovating and adapting amongst the changes around your family business can be difficult whilst wanting to remain true to its core principles. In the second episode of our series, Agile Minds: How Enterprising Families Evolve, we spoke to Smruti Sriram, CEO of Supreme Creations/Bags of Ethics as she gave her unique perspective on how she leads on innovation and adaptation in her ethically driven family business.
Family Business Leadership Academy, designed by KPMG in partnership with the University of Leeds, is a powerful combination of practical, real-world KPMG experience with rigorous academic theory and learning. Covering the key areas facing family businesses today, it will help you think about your own personal leadership style and enhance your ability to see things differently. Read our latest blog written by Course Director, Mark Essex, here.
In the first quarter of 2023, we have seen an uncertain economic environment. Despite this, family businesses continue to invest for growth with the key areas being investment in technology and data strategy. One of the main challenges is scarcity of talent but the strong sense of purpose in the DNA of family business is a positive differentiator. A priority for many family business CEOs is ESG and, in particular, how they can continue to be socially responsible and align their stakeholder base on this important objective in 2023 and for years to come.
I trust you find this edition interesting. If you have any questions or comments regarding any of the topics in this newsletter, or other matters you would like to discuss, please get in touch at Family Business.
In this edition:
- Global family business tax monitor
- Family capital diversification
- Redefining wealth
- Agile minds series
- The sound of a (next) generation
The sound of a (next) generation
Global family business tax monitor report
The Global family business tax monitor compares the different tax implications of transferring a family business, across 57 jurisdictions.
As the next generation of family businesses come into the workplace, could they be leaders of redefining the meaning of wealth itself in the years to come?
Family capital diversification
The rising cost of living, high inflation, and potential recession. What questions are being raised in today’s environment of economic uncertainty?
In collaboration with Women in Family Business we are highlighting the achievements and innovations of women in family enterprises. You can catch up on both episodes.