Creating A Lasting Legacy
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7/23/2019 Creating A Lasting Legacy
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Business/product development
Company reorganization
Availability of finance
Technology
Cash flow/cost control
Succession planning
Staff recruitment
69
43
56
14
8
7
9
10
17
9
14
13
8
21
25
8
10
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10
17
19
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Global 2012
Canada 2010
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Interest rates
Fiscal tax regime
Availability of finance
Exchange rates
Government policy/regulation
Competition
Market conditions
57
54
74
36
27
22
14
17
12
8
7
N/A
6
9
16
6
6
12
27
27
15
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Global 2012
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Conflict between family members
Suppliers/supply chain
Need for new technology
Retaining key staff
Company succession planning
Complying with regulations
Need to continually innovate
Number of businesses competing
General economic situation
Price competition
Attracting the right skills/talent62
58
53
59
49
66
62
36
39
35
32
31
46
27
37
27
27
9
48
40
42
9
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26
6
2121
44
18
14
34
30
25
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fluctuations
16
32
11
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24
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Less open to new thinking and ideas
Take more risks
ake a longer term approach to decision-making
Reinvent themselves with each generation
More entrepreneurial
Add stability to a balanced economy
Play an important role in job creation 87 4
26
83
35
32
873
10
53
3
34
51
35
77 8
30
72
36
29
1263
17
53
7
34
47
39
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Agree
Disagree
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Nothing
Family constitution
Third-party mediator
Family council
Measuring and appraising performance
Entry and exit provisions
Incapacity and death arrangements
Shareholders agreement
69
49
61
37
34
32
29
29
23
24
13
19
45
28
18
21
67
41
26
33
33
15
30
N/A
Canada 2012
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Sell to management team
Sell to private equity investors
Sell to other company12
6
8
5
8
3
Other
Pass on ownership,but bring professional
management in
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Sell/float
Pass on managementto the next generation
51
41
16
11
1424
25
17
17
3
5
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The government is doing what it canto help businesses survive/develop
Young people have the right skills and educationThe government recognizes the importance of family businesses
The government should make it easier for familybusinesses to access finance
58 12
21
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35
23
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The culture and values tend to be stronger than in other types of businesses
Sense of responsibility to support employment in areas where you operate
Do all you can to retain staff, even in the bad times
Sense of responsibility to support community initiatives in your area 91 3
82
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90
1
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870
78
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81
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2013 PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved.
PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. 3195-01 0113
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