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European Family Business Trends: Modern Times?

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The report reveals the ‘changing face’ of European family businesses and seeks to provide fresh insight and perspective. It answers the questions, what does today’s family business look like and how does it survive and grow in the modern economy.

Published in: Business
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European Family Business Trends: Modern Times?

  1. 1. www.kpmgfamilybusiness.com European Family Business Trends MODERN TIMES? November 2015
  2. 2. 2© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Family ownership Long-term vision Desire for discretion Unique value-based culture What is usually known about Family Businesses? Family businesses are often seen as stable, but perhaps conservative and outdated. Their behavior may sometimes seem irrational and they rarely, if ever, disclose certain business information.
  3. 3. 3© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Family Businesses come out of shade Biggest corporations claim their Family Business roots and values Family businesses’ importance for the economy is obvious International and European institutions pay an increasing attention The European Parliament plenary has approved its own-initiative report on family businesses in Europe. The report ‘recognizes that family businesses are the single biggest source of employment in the private sector’ … … and calls for a better understating of the family businesses through better statistics and data. 40% of the 250 largest companies in France and Germany are family owned (Source: www.henkel.com | European Family Businesses (EFB) | ‘Five attributes of enduring family businesses’, McKInsey&Company, 2010 Our rich history evolved from our roots in chocolate to a diverse global privately owned business encompassing petcare, gum and confections, food, drinks and symbioscience, is underscored by the guidance of the Mars family and our principles-led approach. MARS
  4. 4. 4© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. THE CHANGING FACE OF FAMILY BUSINESS What have we learned recently?
  5. 5. 5© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. € Family businesses demonstrate an increasing confidence for their business and stable improvement in performance 75% of companies have a positive outlook for the future 58% have increased turnover in the past 6 months (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015) 75% include investments in their short-term strategy (next 12 months) IN THE PREVIOUS 6 MONTHS YOUR COMPANY HAS INCREASED… 1. FAMILY BUSINESSES DEMONSTRATE SOLID GROWTH
  6. 6. 6© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Family businesses look into future and build their business strategy 41% of family business owners plan strategic changes in the next 12 months: Both choices entail a drastic change in the company’s management ownership structureand/or 2. FAMILY BUSINESSES ARE UNDERGOING FAST STRATEGIC CHANGES (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015) #1 Passing the management of the business to the next generation (26%) #2 Sale of the business (21%)
  7. 7. 7© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Family business owners achieve higher professionalization within their companies 76% have integrated non-family executives into management roles Key benefits: ‘they bring expertise & knowledge’ (57%) & ‘they help to professionalize the business’ (43%) 88% have put some formal governance mechanisms in place … and bring in outside talents They improve governance structures … 3. FAMILY BUSINESSES PROFESSIONALISE (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015)
  8. 8. 8© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 74% of family businesses surveyed have activities abroad 4. FAMILY BUSINESSES RAPIDLY MOVE ABROAD 23% plan to invest in internationalization in the next twelve months 23% place ‘moving/exporting into the new markets’ among their top two business priorities for the next two years (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015) Besides the domestic and neighboring European markets, priority investment choices are Asia & North America
  9. 9. 9© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. 42% of the family businesses have previously raised financing from HNWIs… … and 92% of those rate their experience as positive Family businesses are more amenable to offering equity to the right investors than commonly perceived, especially to a right partner… … but often these investment partnerships are kept in secret 5. FAMILY BUSINESSES OPEN INTO NEW SOURCES OF FINANCING A right partner primarily means an investor with similar appetite for business risks and returns, similar values and a clear understanding of family business (Source: KPMG Global Family Business Survey 2014, Sept 2014)
  10. 10. 10© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Philanthropy is evolving in almost all parts of the world… … among family businesses as well 1/3 of family businesses surveyed consider philanthropic activities as important Next-generation members learn the new skills Family members not directly involved in the business make a meaningful contribution Senior-generation members, stepping out of the business, can take over the philanthropy management roles 6. FAMILY BUSINESSES EXTEND PHILANTHROPIC ACTIVITIES (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015)
  11. 11. 11© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. INCREASED COMPETITION (37%) ‘WAR FOR TALENT’ (33%) DECLINE IN PROFITABILITY (32%) A warning sign! an increasing trend since two years (23% in Dec 2013) Firmly in top 3 of the most pressing challenges since two years There are a number of significant challenges which, if not well managed, may handicap companies’ future growth and success
  12. 12. 12© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The pressure is higher on small businesses than on large ones*: (Source: 4th EFB-KPMG Family Business Barometer, Sept 2015) *small businesses are defined as the ones with less than €10 million in turnover. Large companies are defines as the ones with more than €50 million in turnover Confidence66% 81% Increased turnover in the last 6 months 47% 64% Small businesses have also less activities abroad Number of family business owners ready to part with the company has doubled since two years ago… … this raises serious questions about family businesses’ competitiveness 9% (approximately) of the owners plan to sell the business in the next 12 months Keep or sell? Size matters! There are a number of significant challenges which, if not well managed, may handicap companies’ future growth and success
  13. 13. 13© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The future of family businesses seems to be bright !(Source: European Family Businesses (EFB) | ‘The family-business factor in emerging markets’, McKInsey&Company, 2014) Family businesses are not only the backbone of our economy today… … but may be its future Family businesses provide 50% to 80% of jobs in the majority of countries around the world Family businesses seems to correspond the best to the entrepreneurial spirit of the new generation – Generation Z By 2025, family businesses from the emerging markets will represent 40% of all world’s enterprises with $1 billion in sales Family businesses are increasingly proud to be ‘a family-owned business’ and plan to continue the family legacy and tradition
  14. 14. 14© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. About the report The report is based on the research and insights of KPMG Global Centre of Excellence for Family Business, as well as on the findings from our two recent studies: European Family Business Barometers. Four editions of this study were conducted through 2013 – 2015 in partnership with EFB (European Family Businesses). The study delivers insights into the confidence levels of family businesses in Europe, challenges they face and the changes they need to overcome. The fourth edition ‘European Family Business Barometer: Determined to succeed’ was released in September 2015 and was based on the 1401 competed questionnaires received from 25 European countries; Global Family Business Survey ‘Family matters: financing family business growth through individual investors’, conducted by KPMG and gathering responses from 125 family businesses and 125 high-net-worth individuals based across 29 countries worldwide, covering a total of 82.4% of global GDP.
  15. 15. 15© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Contacts EUROPE Jesus Casado EFB Secretary General T: +34 915 230 450 E: jcasado@europeanfamilybusinesses.eu GLOBAL Christophe Bernard Partner, Global Head of Family Business, KPMG T: +33 (0) 1 5568 9020 E: cbernard@kpmg.fr Tatiana Andreeva Project Manager, Family Business, KPMG T: +33 155 689 038 E: tandreeva@kpmg.fr AUSTRIA Yann-Georg Hansa Partner, KPMG T: +43 (0) 131 332 446 E: yannhansa@kpmg.at BALTICS Toma Marčinauskytė Director, KPMG T:+37052102607 E: tmarcinauskyte@kpmg.com BELGIUM Thomas Zwaenepoel Partner, KPMG T: +32 2 708 38 61 E: tzwaenepoel@kpmg.com BULGARIA Kalin Hadjidimov Partner, KPMG T: +359 (0)2 969 7700 E: khadjidimov@kpmg.com CROATIA Zoran Zemlic Director, KPMG T: + 38515390038 E: zzemlic@kpmg.com CYPRUS Demetris Vakis Partner, KPMG T: +35722209000 E: demetris.vakis@kpmg.com.cy CZECH REPUBLIC Milan Blaha Partner, KPMG T: +420222123809 E: mblaha@kpmg.cz FINLAND Kirsi Adamsson Senior Manager, KPMG T: +358207603614 E: Kirsi.Adamsson@kpmg.fi FRANCE Jacky Lintignat Partner, KPMG T: +33 (0) 1 55 68 90 36 E: jlintignat@kpmg.fr GERMANY Dr. Christoph Kneip Partner, KPMG T: +49 (0) 211 475 7345 E: ckneip@kpmg.com GREECE Vangelis Apostolakis Partner, KPMG T: +30 21 0606 2378 E: eapostolakis@kpmg.gr HUNGARY Zoltán Mádi-Szabó Senior Manager, KPMG T: +36 1 88 77 331 E: zoltan.madi-szabo@kpmg.hu IRELAND Olivia Lynch Partner, KPMG T: +353 (0) 1 410 1735 E: olivia.lynch@kpmg.ie Colin O’Brien Partner, KPMG T: +353 (0) 1 410 1679 E: colin.obrien@kpmg.ie ITALY Silvia Rimoldi Partner, KPMG T: +390118395144 E: srimoldi@kpmg.it MALTA Anthony Pace Partner, KPMG T: +35 6 2563 1137 E: anthonypace@kpmg.com.mt POLAND Andrzej Bernatek Partner, KPMG T: +48 22 528 1196 E: abernatek@kpmg.pl PORTUGAL Vitor Ribeirinho Partner, KPMG T: +351 21 011 0161 E: vribeirinho@kpmg.com ROMANIA Richard Perrin Partner, KPMG T: +40 37 237 7792 E : rperrin@kpmg.com SLOVAKIA Rastislav Began Director, KPMG T : +421259984612 E : rbegan@kpmg.sk SPAIN Juan Jose Cano Ferrer Partner, KPMG T: +34 914 563 818 E: jjcano@kpmg.es SWEDEN Patrik Anderbro Partner, KPMG T: +46 21 4950738 E: Patrik.Anderbro@kpmg.se THE NETHERLANDS Olaf Leurs Partner, KPMG Meijburg & Co T: +31 (0) 76 523 7514 E: leurs.olaf@kpmg.nl Arnold de Bruin Partner, KPMG T: +31 (0) 65 333 0859 E: debruin.arnold@kpmg.nl UK Gary Deans Partner, KPMG T: +44 (0) 141 300 5811 E: gary.deans@kpmg.co.uk
  16. 16. 16© 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. KPMG About KPMG KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries and have more than 162,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG Global Centre of Excellence for Family Business With decades of experience working with family businesses, KPMG professionals across various countries understand the nature of a family business and are passionate about it. KPMG’s Global Centre of Excellence for Family Business is designed to leverage KPMG member firms expertise on Family Businesses, enabling them to offer specialized insights to clients. www.kpmgfamilybusiness.com
  17. 17. © 2015 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International Cooperative (KPMG International). The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Thank you To download the full report EUROPEAN FAMILY BUSINESS TRENDS: Modern Times ? Please click here

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