Family Business

Broadening Tax Net Across The Globe
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By | March 3, 2016|Family Business|

The implementation of the ‘global standard for automatic exchange of financial account information’, a government-to-government automatic exchange of financial account information, is intended to curb offshore tax evasion. Developed by the OECD in close consultation with EU and G20 nations, this pact has already been [...]

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From A Successful Entrepreneur To A Family Business
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By | March 3, 2016|Family Business|

As per a recent article in the Harvard Business Review, the transition from a successful entrepreneur to a family business brings about an existential crisis for which many are not prepared. However the transition becomes imperative as due to the sheer size of the new [...]

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Crowdfunding As A Source Of Capital For Family Business
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By | February 26, 2016|Family Business|

Since the financial crisis, family businesses remain wary of taking on too much debt. Simultaneously the credit crunch in the last decade has pushed family businesses towards non-banking channels to raise capital. A 2014 KPMG International survey showed that 58% of family businesses are currently [...]

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The Use Of Mini-Bonds To Raise Capital For Family Businesses
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By | February 26, 2016|Family Business|

Family businesses often face a dearth of long term capital from established financial institutions. In an effort to meet the growing need for capital many innovative financial products are being developed around the world by family businesses. Mini-bonds or crowdlending is one such product, fast [...]

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From Family To Professional Management And Back
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By | February 19, 2016|Family Business|

Luxottica Group, with annual revenues of $8.2 billion and more than 7,000 retail outlets, is the world's largest eyewear company. It is a vertically integrated designer, manufacturer, distributor and retailer of eyewear. Its best known brands are Ray-Ban, Persol, and Oakley. Luxottica also makes sunglasses [...]

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A Tale Of One Company And Three Business Families
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By | February 19, 2016|Family Business|

Big C, or Big C Supercenter, is a grocery and general merchandising retailer headquartered in Bangkok, Thailand. With 697 stores, a market capitalization of $4.60 billion, it is Thailand's second-largest hypermarket operator after Tesco. It has operations in three countries - Thailand, Vietnam and Laos. [...]

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Problem Of Succession Planning In The Gulf
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By | February 12, 2016|Family Business|

As per recent estimates, around 80% of the companies in the gulf region, producing more than 90% of its non-oil wealth, are family-owned or controlled. These family firms are mostly fairly recent creations—the products of the oil and property booms of the 1970s and 1980s. [...]

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Succession Troubles At Third Generation Family Firm Viacom
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By | February 12, 2016|Family Business|

National Amusements was founded by Michael Redstone in 1936. He was succeeded by Sumner Redstone, 92, who recently announced his retirement as chairman of the family’s media empires. Third generation, Shari Redstone is currently president of National Amusements, and also runs Advancit Capital, which invests [...]

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Lack Of Succession Plans In US Family Businesses
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By | February 12, 2016|Family Business|

As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. However, majority of those businesses have not yet identified the new leader (58%), but most (52%) [...]

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Foreign Firms Preferred Training Ground For Indian Business Family Scions
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By | February 5, 2016|Family Business|

The trend of working outside the family business, especially outside the country, by Indian business family scions is gaining traction. As per Professor Kavil Ramachandran of ISB, “this global exposure prepares the new generation directly for senior roles in the family business. It enables them [...]

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New Survey Reports Lack Of Succession Planning In US Based Family Businesses
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By | February 5, 2016|Family Business|

As per the recently released Kreischer Miller Family Business Survey 2016 titled ‘The Impending Perfect Storm Facing Family Businesses’ the global financial crisis has disturbed the retirement timelines in many US based family businesses. The survey was conducted among 100 privately held businesses in the [...]

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Venture Funds Plan To Bring Family Businesses To Startup Funding
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By | January 29, 2016|Family Business|

Unicorn India Ventures is a venture capital firm founded by Anil Joshi and Bhaskar Majumdar. It has recently got a commitment from the India Aspiration Fund, a Rs 2,000-crore fund of funds, managed by the Small Industries Development Bank of India (SIDBI). Unicorn plans to [...]

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Family Businesses Remain Most Trusted Businesses
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By | January 29, 2016|Family Business|

As per the recently published report titled ‘Edelman Trust Barometer 2016’, family-owned companies (66%) held their top spot as the most trusted businesses globally, trailed by public (52%) and state-owned (46%) businesses. Edelman, a communications company, surveyed more than 33,000 respondents in 28 countries for [...]

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Accounting Big Four Gear Up To Support Family Businesses
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By | January 29, 2016|Family Business|

In the increasingly competitive arena of support services aimed at small and medium enterprises (SMEs), the Big Four accounting firms in Singapore are flexing their muscles, with dedicated teams and expanded services. A significant proportion of Singapore's total SME population are either entrepreneurs or family [...]

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Succession And Talent Management Biggest Challenges For Family Business In Singapore
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By | January 22, 2016|Family Business|

As per a recent survey conducted by PwC and the Singapore Chinese Chamber of Commerce and Industry, 65 per cent of family businesses in Singapore are of the opinion that attracting talent is the biggest challenge, followed by succession planning. These results are important considering [...]

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Succession Challenge In Family Business
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By | January 22, 2016|Family Business|

As per a recent survey conducted by EY titled, ‘Coming home or breaking free? A closer look at the succession intentions of next-generation family business members’, family businesses globally are facing a succession challenge as more and more young graduates turn to the outside world [...]

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Schindler Group Prepares For Non-Family Succession
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By | January 22, 2016|Family Business|

The Schindler Group is a manufacturer of escalators, elevators and moving walkways worldwide, founded in Switzerland in 1874, by Robert Schindler and Eduard Villiger. The company is present in more than 140 countries and employs more than 54,000 persons worldwide. In 2014, the company had [...]

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Arnault Family Office and Family Business enters Private Equity Partnership
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By | January 14, 2016|Family Business|

LVMH is a European multinational luxury goods conglomerate, headquartered in Paris, France. It owns a portfolio of luxury brands that includes Louis Vuitton, Dom Perignon and Veuve Clicquot. It is currently owned by the Arnault family and led by the French businessman Bernard Arnault, who [...]

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Families Preferring to sell rather than pass on Business to Next Generation
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By | January 14, 2016|Family Business|

At one point of time passing on the family business to the next generation was considered important. It involved preservation of the family legacy and heritage. It seems, times are changing and with them the priorities are changing as well. Families are slowly recognizing the [...]

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International Cooperation among Family Businesses
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By | January 14, 2016|Family Business|

Wanda Group is a Chinese conglomerate and China’s biggest private property developer. It is owned by Chinese billionaire Wang Jianlin, whose other assets include a 20% stake in Spanish football team Atletico Madrid, as well as the Ironman Triathlons. He founded the company in 1988 [...]

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Overcoming Blind Spots in a Family Business
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By | January 7, 2016|Family Business|

People growing up in a family business environment can often develop blind spots. During the recent Smart Business 2015 Family Business Conference, four family business leaders discussed how to address these blind spots. They came up with the following four suggestions: Seeing the unseen. An [...]

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A Growing Crisis In Chinese Business Families
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By | December 31, 2015|Family Business|

A proud holder of the coveted Michelin star, the Yung Kee restaurant was once considered among the world’s top 15 restaurants (Fortune Magazine, 1968). However, today it symbolizes the problems faced by Chinese family businesses. In little over a decade after the death of the [...]

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There Is Something About Japanese Family Firms
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By | December 31, 2015|Family Business|

Anyone interested in family business successions cannot ignore studying Japanese companies. As per a recent study by a South Korean bank, there are 5,586 companies worldwide that have existed for more than 200 years, of which 3,146 are Japanese. As per estimates there are more than [...]

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Indian Business Houses Rethink Overseas Investments
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By | December 31, 2015|Family Business|

Over the years, Indian companies and family businesses in particular have been active in making overseas direct investments in the hope of getting access to newer and more extensive markets, and better technologies. While some of these cross-border M&A have been successful, many of these [...]

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Italian State Lender to set up Equity Fund for Family Businesses
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By | December 24, 2015|Family Business|

State-owned Italian bank Cassa Depositi e Prestiti (CDP) is to set up a private equity fund to help family businesses go public, and thereby help boost the country’s economy. The bank intends to buy minority stakes in promising companies that are seeking to build up [...]

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Philanthropy by Asian families on the Rise, but Quietly
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By | December 24, 2015|Family Business|

In the US, an individual is entitled to charitable deductions of up to half of his adjusted gross income, provided that the money is donated to government-approved tax-exempt organizations. It is argued that the lack of such ‘tax shield’ mechanisms is one reason why the [...]

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Founder of Family Business Sheds Tears, Defending Daughter’s Appointment to Shareholders
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By | December 18, 2015|Family Business|

Michael Hill International, a jewelry business, launched in 1979 with one shop, today has 300 stores across Australia, New Zealand and North America. It is headquartered in Australia and last year had revenues of AU$505.6 million. The Hill family owns 53% of the shares. Recently [...]

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New Generation of Asian Entrepreneurs are in Business for the Long Haul
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By | December 9, 2015|Family Business|

According to a new research titled ‘Essence of Enterprise report’ conducted by HSBC and Scorpio Research, entrepreneurs in Asia are more likely to take a long-term approach to their enterprise compared to their western counterparts. The report surveyed 2800 entrepreneurs with a net worth of [...]

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Chinese Heirs Reluctant to join Family Business
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By | December 9, 2015|Family Business|

An important aspect of succession planning in any family business is the manner in which the next generation is gradually introduced into the business. However alarmingly, a recent study by Peking University has shown that eighty percent of potential Chinese heirs are reluctant to follow [...]

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Oldest Surviving Family Business in UK
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By | December 9, 2015|Family Business|

Professor William O’Hara, in his book ‘Centuries of Success’, asked: “Is there any institution more enduring or universal than a family business?” He himself answered this rhetorical question by stating: “Before the multinational corporation, there was family business. Before the Industrial Revolution, there was family [...]

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The Top 250 Multinational Family Firms
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By | December 4, 2015|Family Business|

The Family Business Chair of the University of Seville (Spain), sponsored by Banco Santander, has recently come out with a ranking of the top 250 Multinational Family Firms. Firms that were included in the study had the following characteristics: A) One or more families exercise [...]

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The World’s Biggest Family-Run Companies
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By | November 27, 2015|Family Business|

Recently, the Center for Family Business at the University of St. Gallen, Switzerland, compiled a list of the 500 largest family-run businesses. The list provides impressive evidence of the economic power and relevance of family firms across the world. The index is compiled by the [...]

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Succession Plan Vital for all Businesses Irrespective of Size
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By | November 20, 2015|Family Business|

In a recent article published in the Silicon Valley Business Journal, Jody Meacham, argues that most family business owners don’t have a succession plan in place. The reasons he says are varied and quite personal: “Many owners feel they’re never going to stop working, they’re [...]

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The Succession Challenge in Middle East business families
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By | November 20, 2015|Family Business|

Family businesses account for about eighty percent of non-oil GDP within the Middle East region, according to Deloitte Consultancy. Ninety-five per cent of all companies in the region are family owned. Family businesses are not just the backbone of these economies; they also represent an [...]

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Hiring Talent is main Challenge for Asian Family Businesses
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By | November 17, 2015|Family Business|

As per the results of a recent survey conducted by United Overseas Bank (UOB) in collaboration with Singapore Management University's Business Families Institute (BFI@SMU), most Asian family businesses see talent recruitment and development as the main challenge to securing long-term success. A total of 192 [...]

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Importance of Corporate Governance in Family Business
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By | November 13, 2015|Family Business|

At the recently concluded Family Business Conclave organized by the ISB in Mumbai, several fund managers remarked that family businesses make for easy, stable and resilient investments. However, they also cautioned that funds are wary of investing in companies run by second-generation family owners. Funds [...]

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Time to Document Indian Value System behind Family Businesses
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By | November 5, 2015|Family Business|

At a recent book launch President Pranab Mukherjee remarked that family and business have been interconnected for a long time. Echoing a similar thought, in a recent article on how Indian business families were adopting the Hindu Undivided Family (HUF) structure, Professor Kavil Ramachandran commented [...]

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Indian Family Businesses Investing in Technological Start-Ups
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By | October 28, 2015|Family Business|

Over the last year, Reliance Industries has backed more than 40 startups such as Covascis, Ecorithim and Videonetics through GenNext Ventures, the venture capital arm of Reliance Industries, which has a war chest of Rs 200 crore. They have an ongoing four month acceleration program [...]

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