Family businesses are some of the most varied, innovative and dynamic companies in New Zealand, as well as representing a key pillar of the economy. Not only do they face a unique range of concerns - from succession planning to managing family politics - they are also experiencing the consequences of the same megatrends that are reshaping all companies.
Responding to these trends is a delicate balancing act, at least according to our respondents to this year's Family Business Survey. Our survey respondents recognise they need to become more innovative and have a robust conversation about the threat of digital disruption. At the same time, they are also keeping an eye on the long-term to ensure they are building a business that can be passed on to the next generation.
So how does your family business compare to the rest of the country? Take a look at our survey findings, along with our in-depth interview with Sir Graeme Avery of Sileni Estates, to see how you compare.
Sir Graeme Avery has had a long and successful career as an entrepreneur. He set up the Adis International medical publishing group, having identified a gap in the medical journals market, and made it into a world-leading scientific publisher. He is President of Sileni Estates, New Zealand, which has grown from 2,000 cases of wine in 1998 to 750,000 cases now, and is about to make the transition to its second generation. He is also a prominent and respected philanthropist. We talked to him about being an entrepreneur, going digital and understanding millennials.
We've taken the results of this year's New Zealand survey findings and transformed the data into animated gifs that highlight some of the survey's key findings.