This information is courtesy of PWC, Chartered Accountants.

The recently released the results of their survey

http://www.pwc.com/gx/en/pwc-family-business-survey/assets/family-business-survey-2010-2011.pdf

Date published: 2010/2011

Source: PricewaterhouseCoopers

Description: More than 1,600 family-business owners and managers surveyed in 35 countries.

Key findings:

  • Many people are positive about the immediate outlook
  • Most companies haven’t changed their business models and don’t plan to in the near future.
  • More than a quarter of companies are expected to change hands within the next five years and most expect the business to stay in the family
  • Nearly half of all companies have no succession plans
  • Equitable division of assets is a problem for many proprietors
  • Many companies haven’t prepared for the sickness or death of a key manager or shareholder
  • Disagreements about future strategy are the most frequent cause of dissent
  • Most companies haven’t adopted any procedures for resolving conflicts between family members
  • Simpler tax rules and/or lower taxes top the list of changes family firms want. They also want a stronger corporate compliance environment, better links between industry and universities for product development, and greater access to capital markets.