Lack of strategic thinking an obstacle to family businesses in Singapore, says PwC

Singapore

FAMILY businesses in Singapore are feeling the brunt of the economic slowdown and technology disruption, but it is ultimately a lack of strategic thinking that holds them back, according to a report by PwC.

In its biennial global survey of family businesses released on Tuesday, it found that firms are not effectively tackling areas such as digital and innovation, conflict management and succession planning.

These issues can be linked back to a lack of a strategic roadmap…