Date 2 November 2016 Contact Natalie Choo Tel: +65 6236 4309 Mobile: +65 9738 1415 E-mail: natalie.yl.choo@sg.pwc.comCandy Li Tel: +65 6236 7429 Mobile: +65 8613 8820 E-mail: candy.yt.li@sg.pwc.com Slow or no progress on strategic planning could impact growth Not all family businesses in Singapore are strategically ready for the digital age Gap in the alignment of family and business goal
Family businesses are highly relevant to the Singapore Chinese Chamber of Commerce & Industry (SCCCI). Many of the SCCCI’s council members and members belong to family businesses. In this context, the SCCCI and PwC are signing an MOU to collaborate on an in-depth study into the key issues and challenges relating to family businesses.
Family businesses must adapt faster, innovate sooner and become more professional in the way they run their operations if they are to remain successful. These are just some findings of the latest PwC survey of 2,378 family business executives in more than 40 countries worldwide. The report, titled Up close and professional: the family factor, is PwC’s seventh survey of family businesses globally.
