Family businesses are at the very heart of emerging Europe’s economies. Set up within the last three-four decades, they now contribute meaningfully to the region’s economic growth, development and employment – accounting for 40–50 per cent of all jobs in the private sector.
Despite the current challenging economic conditions, family businesses in the region have seen strong performance over the last financial year, with 83 per cent experiencing growth and only five per cent seeing a reduction in sales. That is more positive than the global picture – across the world, 71 per cent of family businesses grew while eight per cent saw a reduction.
Piotr Michalczyk, Poland-based partner at PwC leading the private business practice in Central and Eastern Europe, speaks with Andrew Wrobel about why family businesses in the region are doing better and are more optimistic about the future, as seen in the Family Business Survey, PwC’s global market survey among key decision makers in family businesses.
They also talk about how these companies perceive innovation and digialisation and how they are embracing sustainability and environmental, social, governance (ESG) and how aware they are of the importance of proper succession planning.
This podcast is part of Digital Future of CEE, a regional discussion series, powered by Emerging Europe, Microsoft and PwC.
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