According to two reports published by Credit Suisse and KPMG, family businesses are more resilient in times of crisis!
A recent report published by Credit Suisse entitled Family 1000: Post the Pandemic shows that during and after periods of crisis, family businesses have higher profitability and growth rates than non-family businesses. Credit Suisse notes that the more conservative financial models of family businesses based on a lower leverage ratio and on maintaining strong cash flow are valuable assets in the context of the COVID-19 pandemic.
The superior performance of family businesses in times of crisis is also observed in a report published jointly by KPMG and the STEP Project entitled Empowering the future of family business. According to this report, the entrepreneurial spirit developed across generations helps family business leaders cope with disruption in times of crisis. Although this report highlights some of the advantages family businesses have in times of crisis, it does not encourage them to rest on their laurels. Quite the contrary! For the authors of this report, the current pandemic period is an opportunity for managers to review and assess the contingency plans in place in their family businesses. Managing the unforeseeable by preparing your business and its succession for all eventualities, this is the key to sustainability and lasting success!
Read the article: ‘Family-owned Businesses Show Resilience Through Pandemic: Credit Suisse Report’
Consult the Credit Suisse Family 1000 report…
Discover the the STEP Project…
