September/October 2012 Openers

A recent survey of Canadian family businesses found that although about half the respondents expect a generational transition in the next five years, few have plans or governance structures in place to smooth the handoff. But the good news uncovered by the study is that next-generation members are aware of the challenges they face—and they have insightful suggestions about how their elders can help them.

The study, entitled “Family Ties: Canadian Business in the Family Way,” was conducted by KPMG Enterprise, a unit of the giant professional services network, in cooperation with the Canadian Association of Family Enterprise (CAFE), a national non-profit organization. There were two phases to the project, both conducted via online surveys. In the first phase, completed in June 2011, 322 family business members were polled; 43% of these respondents said their companies have revenues greater than C$10 million, and 38% have been in business more than 40 years. Survey participants' companies had an average of four shareholding family members with an active role in the business.

Already a subscriber? Sign In

About the Author(s)

Barbara Spector

Barbara Spector is Family Business Magazine's editor-at-large.


Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.