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  • KPMG’s Tom McGinness asks are family businesses role models for the future of work?

  • No one is better equipped to take the reins of transformational leadership than family businesses, says KPMG partner Tom McGinness.

  • With 2022 holding out the prospect of growth and relatively greater stability than recent years, KPMG partner Tom McGinness anticipates a few key subjects on the family business agenda.

  • In a post-pandemic world, many new opportunities and challenges lie ahead for family-owned businesses and business families.

  • In the space of one year, social awareness has escalated and brought the world together in dealing with the health, financial and commercial impact of Covid-19. The way businesses work has changed. How they engage with other people has changed. Their expectations of the companies with whom they choose to do business have grown and intensified.

  • The impact of Covid-19 was felt almost immediately in most industries and regions of the world. We believed that the first indicator of the impact of Covid-19 on family and non-family businesses would be reflected in their revenue and that proved to be correct.

  • Family and legacy go hand in hand and most families in business have a desire to connect and contribute to sustaining their legacy across the generations. One way we do this is by sharing and maintaining the things we value, such as important traditions, milestones, personal histories and the family’s beliefs and principles.

  • The Chancellor laid out a supportive package of measures to help businesses, while having one eye on a longer-term plan to balance public finances. Despite recent speculation about changes to Inheritance Tax, Capital Gains Tax, and the introduction of a Wealth Tax, the current thresholds have been maintained for the time being.

  • Choosing the right leader at the right time will be one of the most critical decisions you can make to secure the continued success of your business. Rarely has continuity and succession planning been more important, given the recent challenges faced by family businesses throughout the world.

  • After a 2020 that was nowhere near what most of us anticipated, it’s perhaps bullish to make predictions about 2021, but Tom McGinness, KPMG’s head of family business, is not deterred from outlining the top 10 topics that he expects to be discussing with those leading family businesses during the coming year.

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