#PrivateBizChat - Addressing 'the missing middle' - 4 April, 12.30pm
30 March 2017
PwC's Private Business team are hosting their next #PrivateBizChat Twitter chat on the 4 April, 12.30pm - 1.30pm, which will focus on the concept of tackling ‘the missing middle’ a shift away from the short term towards having a strategic plan that links where the family business is now to the long-term and where it could be.
Other key themes arising in the UK Family Business Survey, which launched on Wednesday 22 February, include:
- Succession: Only 13% of family firms have a plan for their succession process for all senior executives: 33% have none at all.
- Digital: 45% say keeping pace with digital and new technologies is one of their key challenges, yet only a quarter think their business is vulnerable to digital disruption.
- Professionalisation: 70% of UK FBs have non-family on the board while one fifth have non-family share ownership of the business.
- Skills: Recruitment of skilled staff/labour shortages was the biggest issue or challenge they believe will affect their business in the next 12 months and 52% say their ability to attract and retain the right talent is a key challenge over the next five years. 40%. believe they need to work harder than non-family businesses to recruit/retain top talent.
During the #PrivateBizChat we will explore the key themes and share insights and experiences to support family businesses.
The #PrivateBizChat will be chaired by PwC's Family Business leader, Sian Steele and she will be joined by a panel of experts.
Save the date and get involved by sharing your views and experiences on 4 April. Simply use the hashtag #PrivateBizChat or #PwCFamBizSurvey to join the conversation. or follow Sian Steele on Twitter @SianSteele.
If you have any questions in the meantime, please get in touch. We hope you can join us on 4 April!
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