1、 2024 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.y businessesUnlocking legacy The path to superior growth in family businessesBalancing tradition and change for enduring success May www.spgcfb.org1|

2、Unlocking legacy The path to superior growth in familForewordFinding ways for tradition and innovation to co-exist is one of the most common challenges in building a lasting legacy in family businesses.By exploring the essence of legacy and its impact on business performance,the detailed data analys

3、is,academic insights and the firsthand experiences of family business CEOs in this report contribute to a deeper understanding of the importance of balancing tradition and innovation for long-term success in family businesses.Not only does legacy connect generations and help ensure the continuity an

4、d heritage of entrepreneurial success,but it also shapes the long-term vision of the familys business and guides their strategic choices.Should they expand into new markets?Invest in cutting-edge technology?Diversify or stay true to their traditional business operations?Legacy may sometimes weigh he

5、avily on those choices and we believe its necessary for family businesses to recognize when its right to lean on tradition or when they should dare to leap into the unknown without the fear of losing what defines the family and the family enterprise.And so,while legacy has often had a historical per

6、spective,a more contemporary view expands that definition by recognizing that legacy is an important building block for the future because of the positive contribution it makes to business performance and the environmental,social,employee and supplier sustainability impact of family businesses.This