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Family Business

Globally, more than 30% of large companies are family owned and have their own unique challenges and opportunities for growth. BCG has the industry knowledge and experience to help family businesses remain a vibrant force in today’s economy.

Family-owned companies share many of the same strategic and operational concerns as their nonfamily-owned competitors. But they also face unique challenges. How should the governance of family business be structured? What role should the family play in the future of the business? How should the company manage family business transitions—for example, succession planning and generational shifts? How does it attract the best nonfamily talent? How should the value created by the business be shared? How can growth be funded without diluting family control?

In comparison with nonfamily businesses, family businesses exhibit different behaviors and performance. There are also clear distinctions between family businesses from developed and developing markets. Because of their tendency to take a longer-term and less risk-seeking perspective, family businesses from developed markets show greater resilience. Those hailing from developing markets tend to exhibit greater growth ambitions and pursue global leadership.

Our Family Business Consulting Services

In addition to our full range of standard business consulting services on strategy, corporate finance, organization, marketing, operational excellence, digital transformation, and more, we also help family businesses navigate their unique challenges, among them:

  • Family strategy
  • Governance
  • Succession planning and talent
  • Family office setup

Spotlight on Family Business Governance

Although corporations are required by law to embrace formal governance rules, the families that own them are not. But good governance is no less essential for family businesses. The lack of a clear and mutually agreed governance structure can cause unnecessary conflict and destroy business value. Families need to take four steps to define an effective governance model:

Meet BCG's Experts in Family Business

Thought Leadership on Family Business

Succeeding with Succession Planning in Family Businesses

Planning for succession starts with recognizing that it will be one of the most complicated transitions experienced by a family business. BCG has identified ten principles to guide the process and enable the business to thrive into the future.

The Soft Rules of Family Businesses

Conflicts arising from emotions are rarely about material issues like money or other matters of self-interest. These "soft" issues are often harder to resolve than the "hard" stuff.

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