The pivotal role of family businesses in economies worldwide is underpinned by your unique long-term vision, values and legacy. Success is built on your ambition and value systems. It grows with your potential and agile decision-making. It shapes your legacy. This distinctive set of characteristics gives your family business its competitive advantage. However, this competitive advantage can be threatened by today’s fast-paced change and radical disruption in the market. And as the responses to COVID-19 (coronavirus) continue to evolve, we know your business may be facing significant challenges.
That’s where PwC comes in. As your trusted advisors, we can help your family business manage ownership and growth at every stage, by providing support with family governance, succession planning and business continuity, next generation education and transition, private wealth management and family offices, philanthropy, values and purpose and more. No matter where your business is on its journey to success, we can be at your side with the insights and solutions you need to stay fit for growth and moving forward at the right pace.
The COVID-19 pandemic is severely testing the attributes that give family businesses a competitive edge. The ability to survive and prepare for the “new normal” is critical to the future of your family, your business and all the people who rely on it. So, drawing on our current experience with family businesses worldwide, we would like to provide you with some practical advice about the key areas to focus on, and how to address the unique challenges your family business may be facing right now.
At PwC, we’re dedicated to understanding what matters most to you and your business. We call our approach “The Owner’s Agenda”. This framework is designed to assist you in developing both your ownership and business strategies in a consistent and integrated way, reflecting that you sit at the heart of each of them, and that your agenda encompasses both.
No matter where you are on your business journey, your PwC team is at your side translating our unique vantage point and perspective into real insights that can help you succeed. Together, we can find new opportunities, and shape the future of your business. We’re built around you.
Phryni Yiakoumetti Mina
Director, Private Wealth Services, PwC Cyprus