Wealth
While many might consider history as just something that happened in the past, it is found in our research to have the potential to create important competitive advantages for family businesses and even new entrepreneurs.
The Albert family, the fifth-generation Australian music publishing dynasty that has devoted itself to impact investments, says clearly defining what positive impact means to them helps in their search for new opportunities, in benchmarking performance and in pursuing high returns.
Family entrepreneurs attending the leading 23rd European Family Office Forum are putting their money where COP26 politicians’ mouths are by sustainably investing in transformational ventures and gaining healthy returns.
Incorporating the family story and managing the perception of entitlement while handling complex relationships are key skills for rising leaders of family businesses, executive leadership experts say.
Over the last 20 months, family businesses have experienced unprecedented levels of disruption caused by outside forces. Certainly, Covid-19 has been the leading cause of this turmoil, but a confluence of economic, geopolitical and environmental threats has also caused savvy families to galvanise around resource preservation and the enhancement of family cohesion and reputation.
Adiraj Gupta, the next generation co-founder of startup incubator Impact Launchpad, says interest in sustainability has increased among investors in the wake of Covid-19, but calls for greater co-ordination and data gathering to deliver real positive change.
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