The regenerative power of family businesses
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.
The regenerative power of family businesses
Transgenerational entrepreneurship
Download PDFU.S. benchmarking report | The regenerative power of family businesses
Transgenerational entrepreneurship
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.
Download PDFThe big challenge facing U.S. family businesses going forward will be in maintaining their focus on the things that made them successful in the first place. There are a lot of distractions in the world today. Some represent risks that must be carefully monitored and managed. Others are trends that may create opportunities for rejuvenation in the future.
Brad Sprong
National Tax Leader, KPMG Private Enterprise in the U.S.
What sets top-performing family businesses apart? This is what we discovered…
Strong entrepreneurial capabilities + the family’s positive influence = a strong business, social and family performance
The fuel igniting their regenerative power and performance
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Family business profiles for U.S. survey participants
An in-depth survey of family businesses was conducted between September and November 2021, followed by roundtable discussions with family business leaders, academics and professional advisers in February 2022.
This year's report reflects the 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.
U.S. business size (based on # of employees)
35%
Small (less than 50)
30%
Medium (50-250)
35%
Large (More than 250)
U.S. industries represented
54%
Service
35%
Manufacturing
9%
Construction
2%
Agriculture
Representative U.S. family businesses
Family business generations represented
CEOs’ gender
24%
Female
76%
Male
Business and family governance
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