Family firms – a resilient model for the 21st century

In a very difficult market environment, Romanian family businesses have performed well in the past year, with 71% of respondents indicating an increase in sales.

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Moreover, family business owners and managers are reasonably bullish about growth perspectives in the next five years, with 61% indicating that they expect their companies to grow steadily, while 13% aim at an aggressive growth, including through mergers and acquisitions. Around one quarter of Romanian family businesses are rather cautious about the future and plan to consolidate their structure at the current turnover level.

 

The Results of the PwC Family Business Survey Romania 2013 are well aligned with those at the global level, where 69% of respondents aim for steady, organic growth, while 12% pursue more aggressive growth strategies.
 
 
Challenges ahead
 
 
When it comes to challenges for their organization, most family business owners and managers focus on external factors, such as the market conditions (52%) or increasing competition (32%). 42% of the respondents are concerned about the tax regime and 29% about regulation and government policy. On a more positive note, concerns connected to the availability of finance, a pressing issue in the wake of the global financial crisis, seem to have subdued, with only 13% of respondents quoting this as a challenge for their organization. Also, there seems to be confidence in the capacity of the Romanian National Bank to control exchange rate volatility, with only 16% of respondents voicing concerns over this issue, as well as about the interest rates levels. 
 

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