Hermès and LVMH announcing record profits for 2016 suggests the French family businesses are resuscitating the moribund $1.1 trillion global luxury market despite ongoing political and economic uncertainty. Hermès Group, the French high fashion clothing and accessories manufacturer and retailer started its 180th anniversary in 2017 on a high note. The group’s consolidated revenues for [...]

An oft-cited statistic is that only 30% of family businesses make it through the second generation, 10-15% through the third, and 3-5% through the fourth. These are disheartening numbers. But let’s put them in perspective. A study of 25,000 publicly traded companies from 1950 to 2009 found that, on average, they lasted around 15 years, [...]

In business, few things can be as stressful as running a company that’s staffed and managed by a mix of family and non-family employees. The constant juggling of family drama, emotions and entitlements conflicting against the needs of your non-familial staff can quickly contribute to an extremely volatile company culture. Here are four solutions to [...]

Amid a politically uncertain landscape, the main concerns for the world’s and the Kingdom of Saudi Arabia’s (KSA) most affluent people are wealth preservation, capital growth and succession planning, according to Knight Frank’s annual Attitudes Survey, produced exclusively for The Wealth Report. The Survey looks at the most important factors for ultra-high-net-worth individuals (UHNWIs), canvassing [...]

The concept of corporate governance was invented after the recent economic crisis that led to the bankruptcy of several European and American companies. This new concept is an integrated system based on the construction of three main pillars of direction, control and execution. There lies the need to separate these three pillars from each other, [...]

Could something called the Lindy Effect help to understand why family businesses often survive for so long? Possibly - but one thing is for sure, the Effect offers an intriguing explanation for why some businesses survive longer than others. The Lindy Effect says that the observed lifespan of a non-perishable item like a business is [...]

PwC Family Business Survey Being the ‘boss’s child’ throws up some unique challenges for the next generation of family business leaders.  There are a number of ‘gaps’ that the next generation face: the generation gap between their experience and expectations, and those of their parents’; the credibility gap, which they have to surmount if they’re [...]

Family businesses form the backbone of the Irish economy, accounting for more than 40 per cent of all private sector employment. The benefits of families working together, with uniquely intimate closeness and trust, have provided a foundation for a proven business model. Family business leaders often demonstrate a heightened emotional connection to the success of [...]