Family Business Survey 2012: Russia

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Family Business Survey

PwC Family Business Survey 2012

What did 1,952 family business owners and managers in over 30 countries tell us was critical to owning and operating a successful family business? Read the Survey

Russia — Global
Scaling up — Global

Scaling up

The next frontier for more and more family businesses is overseas: 67% of respondents had some level of international sales in 2012. By 2017, that number will jump to 74%.

Skills — Global

Skills

Family businesses face a significant challenge in finding the skilled outside talent they need to grow: 64% of them are planning to bring in non-family management in 2012.

Succession — Global

Succession

While four in ten respondents will pass on both ownership and management to the next generation, fully 25% intend to pass on their shares but bring in professional managers, citing the next generation’s lack of skills.

Download — Global
 

Family businesses in Russia are bullish about growth over the next five years

Russian private and family businesses are much more likely than the global average to have experienced growth in the last year and to be looking for growth over the next five years. 92% have grown in the last 12 months (compared with 65% globally) and 22% are aiming to grow quickly and aggressively over the next five years (compared with 12% globally).

 
 

Russian private and family businesses look to the government for more support

Family businesses in Russia believe they play a vital role in their country’s economy, namely by assisting in creating jobs and adding stability to a balanced economy. They generally believe their government does not recognise the importance of private and family businesses and there is a feeling that more needs to be done to help private and family businesses, including easing access to finance and generally removing some of the perceived (unfair) advantages enjoyed by corporations (especially state-owned corporations).

 
 

Key internal issues in the next 12 months

Family businesses both in Russia and worldwide name staff recruitment as one of the key internal issues they face. But, private and family businesses in Russia tend to be more optimistic about meeting this challenge, with only 39% viewing it as a problem, as compared to their global peers, 43% of whom deem recruiting talent a major issue. In addition, Russian private and family businesses name profitability/margins and the availability of finance as other key internal issues. In contrast, private and family businesses globally see cash flow/cost control and company re-organisation as the other key internal issues they face.

 
 

Key challanges for the next five years

Russian private and family businesses, like their global peers, expect that tough economic conditions and attracting and retaining the right skills will be the key challenges in five years’ time.
While private and family businesses around the world see the need to continuously innovate, Russians do not place as much importance on this issue.

 
 

Succession planning

57% of private and family businesses in Russia plan to sell or float their company, compared with only 17% worldwide. 10% plan to pass the business onto the next generation, while another 14% will pass on ownership of the business, but will employ non-family management.

 
 

Quotes

Irina Tsurkanova

Foreign Projects Co-ordinator, Absolut Group

It is quite common for private companies to experience problems raising capital.

 

Private business

Lack of government support, difficulty receiving loans, fault-finding by supervisory organisations.

 

Private business

[The distinguishing feature of a family business] is the ability to react quickly to a given situation, make decisions and bring them to life, bypassing the hierarchy common for state organisations.

Leonid Novoselsky

President, Gradient group of companies

We all are in our forties still... We understand that we will be managing our business actively and doing what we are used to for another 10-15 years. Meanwhile, we are assessing our company's top managers looking for those who could substitute us in the future. We've got some talented people. I believe they can step forward and take control.

Sergey Vereschagin

Smart Value Retail

Emotional involvement of shareholders, a higher level of energy for development, sense of belonging, of ownership, family comfort, warmth.

Sergey Kolesnikov

President, Tekhnonikol

Concentration of power and authority makes a company flexible and quick, like a fighter jet. It is good for competition and quick decision-making.

Vadim Dymov

Owner, Dymov company

Many people think that the WTO has become a key barrier for developing companies such as ours. I understand all the related risks and problems, and I'm ready to take the challenge together with my company. In fact, we see advantages and opportunities in it. We will discover new western markets. I told my employees that this is a chance for them to look at the West. What they see and what the result will be, however, is a topic for another discussion. After all, nobody forbids us from acquiring foreign companies.

 

Private business

We should promote the image of private companies and entrepreneurs, advocate respect for private business and reduce the amount of reporting paperwork.

Contacts
Alina Lavrentieva
Partner, Private Companies Services Practice Leader
Tel: +7 495 9676250
Andrei Narutsky
TEP, Partner, Private Wealth Services Practice Leader
Tel: +7 495 9676246
Stas Medvedev
BD Senior Manager
Tel: +7 495 9676060

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