PFBI will engage with family businesses in the following stages:
The Institute provides state-of-the-art expertise through research, global partnerships and knowledge exchange.
- Most of the Business families face unique management challenges because of the differences in the attitude & aspirations of family members
- As new generations join the family business, it is an enormous challenge to keep the family & business together. Some sacrifice the business to keep the families together, while others sacrifice the family to keep the business
- It has been observed that only 13% of the family businesses survive till the 3rd generation, 4% go beyond the third generation and about one third of the business families disintegrate because of generational conflicts
- Out of the nearly 1000 companies with market capitalization greater than USD 50 million, 663 are family businesses
- Family businesses in India account for 70% of the total market capitalisation and 57% of the employment
- As they succeed, they contribute to the economy of the country because family businesses contribute to 60-70 percent of the GDP of most developed & developing countries. India is no exception.
- The close-knit structure of families which fosters teamwork combined with respect to family values and family elders has been the key to success of many family businesses
- PFBI is a Not-for-profit social initiative that seeks to contribute to national development by supporting one of the largest contributing stakeholders - the family business. The Institute will work towards inspiring emerging family businesses to focus on the development of the family and the business through dissemination of knowledge, awareness and education.
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