Executive Access: Most Family-Owned Companies Remain Bullish on FY22
The worry about economic uncertainty notwithstanding, Indian family-owned businesses are upbeat about their prospects in 2021-22.
In a study of over 100 family-owned businesses by Executive Access India, conducted exclusively for TOI, 64% companies said they are optimistic in their outlook for the current financial year. A majority (51%) of such businesses see opportunities for growth in the domestic market with the focus on expansions, while 22% are contemplating diversification and 10% looking at growing business overseas.
Executive Access India MD Ronesh Puri said,
“Indian family businesses feel the Covid crisis will soon pass as vaccination gains steam. They are more optimistic (64%) and feel Indian businesses have huge resilience and are quick to adapt. They feel supply chain constraints are temporary and will not impact business as there has been huge learning on the same since last year.”
Gautami Gavankar, CEO of estate planning & trusteeship and head of Kotak Mahindra Group’s family office, said
"Family business owners have realised the importance of liquidity, personal wealth and planning a safety pot during these tough times. Many family businesses have either set up family offices to manage their investment portfolio and other needs, or are taking steps to set up appropriate structures to take care of family requirements."