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Optimism rules European family business says KPMG research

Monday, November 18, 2019

Laxman Pai, Opalesque Asia:

62 percent of Europe's private family businesses are confident or very confident about the future business's outlook for the next 12 months.

Optimism is especially high among family businesses in Ireland (91 percent), Portugal (78 percent) and the Netherlands (67 percent), said a survey of Europe-based family businesses produced by KPMG Enterprise and European Family Business (EFB).

However, the war for talent, declining profits, and regulatory change are seen as key challenges, according to the research, which surveyed 1,613 family business executives in 27 countries across Europe.

"Innovation, training and education, and diversification are key priorities as they adapt to a fast-changing world --while planning for succession is increasingly on families' minds," it said.

Optimism is especially high among family businesses in Ireland (91 percent), Portugal (78 percent) and the Netherlands (67 percent).

59 percent of respondents report rising turnover over the past 12 months, while another 28 percent said that turnover remained steady.

72 percent say innovation is a key priority for the next 2 years, along with workforce education and training (64 percent) and diversification (50 percent).

63 percent of respondents feel the war for talent is their top business concern, up from 53 percent last year. 62 percent of respondents are also concerned about declining profitability, and 60percent are worried about regulatory c......................

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