Family Business Survey
PwC Private Clients Australia recently participated in the PwC Global Family Business Survey in order to provide you with insights into the market both here in Australia and on a global scale. Here you will find a snapshot of the global results plus an in-depth look at the findings for Australia. Both the Australian and global reports are available for download and we look forward to talking to you further about the results.Family Business Survey
PwC Family Business Survey 2012 | |
| What did 1,952 family business owners and managers in over 30 countries tell us was critical to owning and operating a successful family business? Read more on our global site. |
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Australia
Challenges to growth | |
| The key challenges to growth over the next five years cited are the general economic situation, competition (pricing and the number of competitors), the need to innovate, and attracting the right skills and talent. | |
Scaling up – global
Scaling up | |
| The next frontier for more and more family businesses is overseas: 67% of respondents had some level of international sales in 2012. By 2017, that number will jump to 74%. Read more on our global site. | |
Skills – global
Skills | |
| Family businesses face a significant challenge in finding the skilled outside talent they need to grow: 64% of them are planning to bring in non-family management in 2012. Read more on our global site. | |
Succession – global
Succession | |
| While four in ten respondents will pass on both ownership and management to the next generation, fully 25% intend to pass on their shares but bring in professional managers, citing the next generation’s lack of skills. Read more on our global site. | |
Download
Download global report | |
| Read our report on what family businesses in 2012 are thinking and planning as they look to compete in an increasingly global marketplace. | |
Download Australian report | |
David Wills, PwC Private Clients Australia, National Managing Partner
David Wills provides an overview of the Family Business Survey and some insights in to the Australia results.
Please contact
- David Wills
- National Managing Partner
- Tel: +61 (3) 8603 3183
Australia key findings
Sales growth is below the global average, but forecasts are bullish
Family business’ sales have grown less in Australia than the global average over the past financial year, but businesses are bullish about future growth. This was consistent with the findings of our 2012 PwC Private Business Barometer a survey of more than 1,000 Australian private businesses.
Family business’ sales have grown less in Australia than the global average over the past financial year, but businesses are bullish about future growth. This was consistent with the findings of our 2012 PwC Private Business Barometer a survey of more than 1,000 Australian private businesses.
Business growth
Challenges to growth include the economy, competition, innovation and talent
The key challenges to growth over the next five years cited are the general economic situation, competition (pricing and the number of competitors), the need to innovate, and attracting the right skills and talent.
The key challenges to growth over the next five years cited are the general economic situation, competition (pricing and the number of competitors), the need to innovate, and attracting the right skills and talent.
Perceived challenges faced by businesses in next five years
Family businesses believe they play a vital role in our economy
Australian family businesses believe they play a vital role in our country’s economy; including job creation and adding stability to a balanced economy.
Australian family businesses believe they play a vital role in our country’s economy; including job creation and adding stability to a balanced economy.
Perception of family businesses
Family businesses want Government to level the playing field
They generally believe that Government does not recognise the importance of family businesses, and feel more should be done to help, for example, improved access to finance and removal of some of the advantages enjoyed by corporations.
They generally believe that Government does not recognise the importance of family businesses, and feel more should be done to help, for example, improved access to finance and removal of some of the advantages enjoyed by corporations.
Perception of Government in supporting success of family businesses
Almost 40 per cent intend to pass down their business
Almost 40 per cent intend to pass down the business and management to the next generation. The remainder are twice as likely to sell or float than to pass down but employ non-family management.
Almost 40 per cent intend to pass down the business and management to the next generation. The remainder are twice as likely to sell or float than to pass down but employ non-family management.
Succession plans
Of further interest
