Family Business Survey 2012: Taiwan

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Family Business Survey

PwC Family Business Survey 2012

What did 1,952 family business owners and managers in over 30 countries tell us was critical to owning and operating a successful family business?

Ireland
Scaling up

Scaling up

The next frontier for more and more family businesses is overseas: 67% of respondents had some level of international sales in 2012. By 2017, that number will jump to 74%.

Skills

Skills

Family businesses face a significant challenge in finding the skilled outside talent they need to grow: 64% of them are planning to bring in non-family management in 2012.

Succession

Succession

While four in ten respondents will pass on both ownership and management to the next generation, fully 25% intend to pass on their shares but bring in professional managers, citing the next generation’s lack of skills.

Download

Download the Survey

Read our report on what family businesses in 2012 are thinking and planning as they look to compete in an increasingly global marketplace.

 

Most family businesses are looking for steady growth over the mid-long term

Family Businesses in Taiwan have performed well over the last year and are confident about growth over the next five years. 70% have grown in the last 12 months and 90% are aiming to grow over the next five years. Family businesses in Taiwan view the need to innovate, the general economic situation, price competition and attracting the right skills/talent as key challenges.

 
 

How family businesses differ

Family businesses believe they hold some key advantages over non-family businesses including: agility/speed of decision making, effective internal communication, and motivation/values within the company and less bureaucracy. But they recognise the disadvantages too, such as challenges around succession, attracting/retaining non-family staff, access to capital, ability to innovate / change direction and the difficulty of making decisions that benefit the company but not necessarily the family.

 

Family business evolution and succession planning

Over half plan to pass the business down to the next generation, while a further 17% will pass ownership of the business down but will employ non-family management, and another 17% will adopt exit plan to IPO or sell out to third party. Some believe that family businesses will need to adopt more corporate behaviour in order to survive and thrive in the years ahead if the next generation are not up to the task.

 
 

Quotes

Anonymous

Second Generation Family Business

Family members tend to contribute more into the businesses and they can make decisions themselves. In contrast, management in other types of businesses only regard it as a job. The attitude is different.

Anonymous

Second Generation Family Business

To get the right talents to meet the needs for business development. Appropriate company policies and system to facilitate the business development. Corporate culture that is right for the company's future.

Anonymous

Second Generation Family Business

There are less bureaucratic implemented than in corporate business, communication is faster as well as decision making.

Anonymous

Second Generation Family Business

Limited financing as only family members provide money. This might result in less opportunity and less product production.

Contacts
Wendy Liang
Partner, Middle market leader
Tel: +886 2 27296658
Jason Hsu
Partner, Tax partner
Tel: +886 2 27295212
Peter Yu
Partner, Advisory partner
Tel: +886 2 27296157
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