Reluctance to seek outside expertise inhibits growth of private businesses

FAMILY businesses are not all run by family members - it is useful to bring in non-family non-executives help to guide and add value.

Jonathan Boyers, partner - corporate finance, KPMG Enterprise, says: “As the business grows a family may need to bring in third party professional managers to run things in a more dispassionate manner.”

The findings of the latest European Family Business Barometer research from KPMG and European Family Businesses (EFB) were published in October.

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