How do family businesses keep their founders’ entrepreneurial spirt alive and continue to grow from decade to decade and generation to generation? What’s the secret to their staying power and their ability to stay ahead of competitors? The STEP Project Global Consortium and KPMG Private Enterprise set out to find the answers.
As a result of an in-depth survey of family businesses conducted between September and November 2021, followed by roundtable discussions with family business leaders, academics and professional advisers in February 2022 we developed this report, The regenerative power of family businesses: Transgenerational entrepreneurship.
Reflected in the report are responses from family business leaders who reveal the secret to their staying power, how they stay a step ahead of their competition and how they continue to nurture and grow their businesses from decade to decade and from generation to generation. We discovered their formula for strong business and family success and what helps set these top-performing market leaders apart.
In addition to the main report, we also share the U.S. benchmarking report where we highlight important characteristics of family businesses such as their entrepreneurial capabilities and the family’s identification and emotional attachment to the business, which contribute to their financial, social, and family performance. The U.S. benchmarking report makes it possible to compare your family business characteristics with others in your own country and around the world, giving you the opportunity to identify areas for improvements as well as those areas where you may already have a competitive advantage to sustain.
For more insights into the U.S. benchmarking data, click here