Page 21 - KZN Business Sense 10.4 - Jay Patel - Ebook

THRIVING FAMILY BUSINESSES

BUILDING A LEGACY FOR FUTURE GENERATIONS

ccording to a recent and ideas to managing these KPMG Private Enterprise will
McKinsey report “All dynamics as they evolve. be hosting its 10th national
Ain the family business”, family business conference on 13
family-controlled businesses KPMG Private Enterprise South September 2024 and this year will
contribute to more than 70% of Africa hosts regular events is to be done in conjunction with KZN
global GDP. Family-controlled provide business families with Top Business. The conference
businesses, which range from the opportunity to engage openly will include family business
small to medium type businesses on a number of the key family leaders providing insights on
to very large companies, are dynamics which keep them up key topics during interactive
therefore the backbone of most at night e.g. succession planning, panel discussions, a case study
economies across the world, retention and attraction of top workshop and insights on global
especially in Africa. talent, governance, growing trends. The event provides a
the business to sustaining the
Family businesses are unique. family etc. wonderful opportunity for
At the centre of this difference is business families from across the
the family dynamic, from family The KPMG Private Enterprise country to network, share insights
to business and ownership, team have hosted the following and learn from one another.
which can all play a significant events: Alan Barr, Head of KPMG
role in decision making and 1. Nine national annual family Private Enterprise for Africa and
offers both opportunities business conferences across
and challenges. The growth South Africa South Africa highlighted the
following: “These events provide
and sustainability of a family 2. Facilitated the 4th family
business lies in the fine balance business workshop for family a wonderful opportunity for
between the needs of the business CEOs from across family businesses to connect,
business and the expectations Africa at the Africa CEO learn and share with other
of family members. Getting business families on how they
the balance wrong often leads Forum held in Kigali, are dealing with the various
to business failure and/or Rwanda in May 2024 family dynamics. It highlights
family disharmony, impacting 3. Co-hosted the first family the fantastic entrepreneurs
not only the family but all the business summit in Eswatini that growing their businesses
stakeholders. When they get the in July 2024 despite the tough economic
balance right and harness the conditions.” 
power of the entrepreneurial The feedback from attendees
spirit and family influence and has been very positive e.g. To find out more about the event, visit
control, they build a thriving the CEO of large, diversified https://www.kzntopbusiness.com/
and resilient business – a legacy Eswatini family business said event-details/thriving-family-businesses-
building-a-legacy-for-future-generations
for future generations. the following after attending the
event in Eswatini. “It was indeed
There are no silver bullets a very enriching experience.
in dealing with the family An eye opener on a number of
dynamics and leading family issues we have grown to ignore
businesses invest time to keep or maybe take for granted as we
abreast of changing trends navigate business landscape.”

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