16 September 2024 – Balancing traditional values with modern business strategies for family businesses. 

To explore the family-business challenges and opportunities in South Africa, KPMG Private Enterprise South Africa recently hosted its 10th National Family Business Conference in Umhlanga, Durban, in partnership with Kwa-Zulu Natal (KZN) Top Business.

According to a recent McKinsey report “All in the family business”, family-controlled businesses contribute to more than 70% of Global GDP.

Alan Barr, Head of Private Enterprise for KPMG in South Africa says, “Family-controlled businesses, which range from SME type business to very large companies, are therefore the backbone of most economies across the world, especially in Africa. Therefore, it is vital to note the success and endurance of family-owned businesses – especially in South Africa where there is a huge generational wealth gap and a high unemployment rate.”