Mazars sponsors Family Business United’s national survey for the second year
Mazars is once again sponsoring Family Business United’s National Family Business survey; and we want to hear your views.
This year’s survey; ‘Determining the Family Business Agenda’; delves into topics including succession planning, the importance of legacy, productivity and the adoption of a modern digital environment.
Findings from the survey provide great insight into the family business sector in the UK and its concerns and aspirations for the future.
If you would like to complete the latest survey, you can do so here
At Mazars, we appreciate the intricacies of a family business and understand that, how you measure success is unique, not just to your business, but to your family too.
We are delighted to once again be working with Paul Andrews, founder of Family Business United: an award-winning magazine, resource centre and events organisation championing the contribution that family businesses make to the global economy
Themes from the previous National Family Business Survey
Last year, when asked what kept them awake at night, 46% of family businesses said the number one issue was profitability and sustainability, which were particularly important when thinking about future generations.
Succession planning and the transition of the business from one generation to the next also proved problematic, especially when adding global economic uncertainties, including Brexit, to the mix.
As technology develops and consumer demands change, there was also the added pressure for owners to recruit, retain and motivate staff which some found difficult.
It was positive to see that 59% of family businesses believed they were addressing digital opportunities. However, research also showed that 41% were reluctant to embrace digital, with 28% believing it was the responsibility of the next generation. In addition, a quarter of all respondents had no plans in place to manage any digital strategy.
One year on, and following the introduction of GDPR, MTD and advances in 5G mobile networks, it will be interesting to see if thoughts on the digital environment have changed and whether it is now welcomed or viewed as an essential talking point on the family business agenda.
If you’d like to see more from our previous report, you can download it free here
We appreciate you taking the time to complete the survey and, if you would like to receive the findings which will be available this Autumn, you can do so by completing the form below