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Family Owned Companies & Branding
7 months ago
15
Purpose-Driven Entrepreneurship.Families are increasingly aligning their businesses with societal and environmental goals, such as sustainability and community impact. This resonates with younger generations and builds brand loyalty.
Family businesses often prioritise long-term sustainability over short-term profits, enabling them to invest in innovation and community-building.
Despite their strengths, family businesses face unique challenges that could impact their sustainability.
Succession Planning. Only 30% of family businesses survive to the second generation, and 72% lack robust succession plans. This gap can lead to leadership disputes and operational disruptions.
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