What's on the horizon for family businesses in 2022?
With 2022 holding out the prospect of growth and relatively greater stability than recent years, KPMG partner Tom McGinness anticipates a few key subjects on the family business agenda.
While a perennial business issue, the pandemic has pushed diversification up the agenda of many families in business. Having discovered the hard way that having all their wealth dependent on the performance of one sector can result in a significant dividend squeeze, the diversifying of business assets will grow in 2022.
As a result, a number of families will be buying a business in a different sector to their legacy business, providing an alternative profit return, with a modest number exiting legacy sectors also.
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