Family businesses are the running engine of economies across the world and Family Business United have set out to celebrate the significant contribution made by family firms through the Global Family Business Think Tank Report. It highlights how family businesses embrace change, new ideas and ways of working and how there is also an opportunity to do more, raise the bar further and be more innovative which can reflect in bringing positive support for future generations to come.
John Good Group is in its sixth generation of being a family-run company. At 190 years old we have never let our core values fall out of sight, and we’re more committed than ever to supporting both the economy and communities through responsible and innovative strategies.
Some of the key findings from the Family Business Global Community are:
- 91% agree that communication is an essential ingredient for long-term success.
- 97% of family firms will need to further evolve in response to the changes affecting the next generation.
- 67% do not believe family firms embrace their narrative as a point of competitive advantage.
Adam Walsh, CEO of John Good Group, said “It’s clear from the findings that family businesses that, wherever in the world they are, we face similar yet difficult challenges, but equally are adept at finding opportunities too. It was great to be able to play a small part in this research on family businesses and representing the John Good Group in a global project.”
Family businesses are embracing change, new ideas and ways of working and how there is also an opportunity to do more and raise the bar further which can reflect in bringing positive support for future generations to come.