Most family businesses in Romania performed strongly last year

The majority of family businesses in Romania (82%) increased their sales in the last financial year, up from 55% in 2021 and above the 71% recorded globally, according to PwC.

In addition, more than two-thirds of family businesses in Romania experienced double-digit growth. Only 3% reported a decline compared to 8% globally.

At the same time, growth targets are also ambitious for the next two years: 27% of family businesses in Romania are expected to grow rapidly and aggressively, compared to 14% globally.

Protecting the business as the family’s most important asset and creating dividends for family members are key long-term personal goals in Romania.

At the same time, the level of trust between family members is generally considered high, with 74% of respondents saying there is family alignment about the direction of the company (compared to 59% overall).

However, while growth and profit are considered essential, most agree that profit should not come at the expense of customers or employees.

Romanian family businesses consider themselves more advanced than global businesses in a number of areas, including their ability to adapt / make decisions quickly.

Thus, 55% of family businesses in Romania believe they have strong digital capabilities, compared to only 42% globally, and 88% say they have the ability to change course at short notice because of the company’s liquidity.

SEE ALSO: Farmec recorded a turnover of 135 million lei in the first 6 months

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