Family business’ entrepreneurial spirit trumps tough times

Leonie Finch The current economic landscape is having a detrimental effect on both consumer and business confidence, however, PWC’s Family Business Survey: New vines from strong roots 2016/2017 reveals that South Africa’s family business sector is set for quick and aggressive growth over the next five years. This is according to Anton Roelofse, Regional General Manager at Business Partners Limited (BUSINESS/PARTNERS), who says that the report reveals that whilst other businesses are struggling to create revenue, around 78 percent of South African family businesses reported growth during 2017, and 62 percent are expecting to grow steadily over the next five years. “These growing businesses are essential to bolster the struggling economy, so if a person finds themselves in a position to take over a family business, this may be a great opportunity for them to consider.” Taking over a family business, however, can be daunting for many reasons, says Roelofse. For Business Partners ...