‘Shine the spotlight’ on family business: Grant Thornton to release new survey

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An upcoming survey from Australian accounting firm Grant Thornton hopes to “shine the spotlight” on family businesses. According to Grant Thornton Family Business Specialist Kirsten Taylor-Martin, family businesses make up 70 per cent of the Australian economy and 50 per cent of our workforce. “Our theme is future-proofing your family business,” Ms Taylor-Martin told Sky News Australia. “The three pillars we looked at are sustainability, diversity and growth. “We really wanted to explore at what generation did the mindset change from an ownership mindset to a stewardship mindset – when we say stewardship, we mean nurturing the business for future generations. “The one statistic we really want to change is only 12 per cent of family businesses make it to the third generation.” In partnership with Grant Thornton. Access to the survey can be found here: https://www.grantthornton.com.au/insights/reports/family-business-survey-2023/