As the longest running Australian survey into family businesses, Family Business Australia and KPMG are delighted to share our 2015 Family Business Survey results - available on the website.

Since 2005 FBA has sought to better understand the unique nature, opportunities and challenges of family owned businesses, and in this year’s survey we have gone deeper, to identify the characteristics of high performing family businesses in an ever changing business environment.

Conducted by the University of Adelaide’s Family Business Education and Research Group, our 2015 Survey reveals nearly 80 percent of family businesses are feeling optimistic about their future growth prospects.

The survey also highlights key trends that are shaping the future of Australian family business:

• Balancing of family and business issues remains the biggest challenge.
• Family businesses believe technological change is creating disruptions in the way business is done, but in a positive way.
• Governance mechanisms are evolving, allowing for greater agreement and communication – 52 percent of family businesses now have a formal board (up from 39 percent in 2011).
• Although there is still work to be done in exit / success preparation, family businesses are overall much more prepared than in 2013.
• CEOs believe their successor needs to work on his/her financial management, strategic planning and leadership/management skills.

We hope you will find the 2015 survey findings of interest. To download it, click here.

This information was directly sourced from Family Business Australia.