Barclays Wealth has launched a white paper entitled, ‘Ensuring Business Continuity: New Thinking in Building a Sustained Leadership in Indian Family Business’.
The report, which can be read using the link on the right, explores the key factors helping family-run companies in India to grow and sustain their business.
It is based on interviews conducted with over 200 leaders of family-owned businesses with an annual turnover of more than US$40m in five cities across the south Asian country – Mumbai, New Delhi, Bengaluru, Kolkata and Chennai.
While family businesses in India have successfully co-existed with new-generation entrepreneurs and transnational companies over the past decades, they are grappling with governance and leadership issues in the face of continuous changes in a dynamic business environment at home and abroad.
According to the Barclays Wealth research, the two key factors for success are:
Strong and professional leadership coupled with proper systems and processes are critical for building a long-term, sustainable business environment
Robust internal processes in corporate governance lead to increased transparency and attract strategic investments.
The India-specific study also highlights regional biases on issues such as leadership traits and the criteria used to choose a successor.