The third-generation curse

By | August 7, 2017|Family Business|

Like most family-run enterprises across the globe, only 13 percent of those in Singapore survive till the third generation, according to a March 2017 survey of 100 firms done by KPMG and CPA Australia. Though statistics vary, the fraction of such Filipino family businesses is likely similar, bolstering the so-called three-generation curse, where the first [...]

Family businesses need to innovate through the ranks

By | August 7, 2017|Family Business|

Innovation needs to be more pervasive amongst all levels of staff in family businesses, according to professional services firm KPMG Singapore. Recent research by the firm shows that innovation is currently mostly limited to founders and senior people in a family business when it is important for every worker to be empowered to innovate. In [...]

Great Investors Debate – Should You Be Investing In Family-Controlled Businesses?

By | July 28, 2017|Family Business|

Companies in which founders and their families hold controlling stakes have the rare ability to maintain a long-term view. That can be a huge advantage, particularly when it comes to capital allocation. Should you be investing alongside them? According to data compiled by the Boston Consulting Group (BCG), nearly one-third of all companies with sales [...]

Family Charter and succession planning

By | July 21, 2017|Family Business|

Family-owned businesses reaching a milestone of more than 100 years are indeed extraordinary, and Royal Selangor, a Malaysian company of Chinese descent that started in the 1880s, has proven that with a well-crafted Family Charter (constitution) and a timely succession process, the family business can continue to survive and grow amid a complex and competitive [...]

How Are Family Offices Structured?

By | July 21, 2017|Family Business|

There is no standard legal structure for family offices. The types and number of legal entities used in a family office differs depending on each family’s vision and goals, the family’s investment strategy, and the scope of services to be provided by the family office. There are, however, several types of family offices commonly seen [...]

Modernising Bata’s 123 year-old family business one step at a time

By | July 14, 2017|Family Business|

The T. & A. Bata Shoe Company was founded in the late 1800s in the Czech Republic by Tomas Bata, his brother Antonin and his sister Anna. They came from a long generation of cobblers. The family-owned international business saw its tentacles spread in the 1900s and currently has more than 6000 stores worldwide. And, [...]

Leadership is vital to ensure family businesses keep thriving

By | July 14, 2017|Family Business|

It is difficult to overstate how important family businesses are. Some two-thirds of UK businesses are family-owned – 4.7 million in total. They employ more than 12 million people, approaching half of all people employed in the private sector. They generate more than a quarter of UK GDP and in 2015 alone the family business [...]

Up Close and Personal: Perspectives on Asian Family Offices

By | July 7, 2017|Family Business|

With assets still predominately held by the first and second generations, the heads of most wealthy Asian families remain as key decision makers and they are often keen to stay actively involved in managing their own assets. This is despite the fact that many of Asia’s wealthy families are facing a transition period which involves [...]

This Company Grew to $70 Million When the Kids Took Over for Mom and Dad

By | July 7, 2017|Family Business|

Teddy Fong runs Million Dollar Baby, a $70 million children's furniture wholesaler his parents, Daniel and Maryann Fong, started in 1990. Almost three decades ago, Daniel Fong was a venture capitalist with an urge to start a company. He did some research and bought and then merged two baby-furniture wholesalers, which had low overhead and [...]

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