EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
How EY can help
How EY can help
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Discover how EY can help transform your business to navigate disruption with agility, stay competitive in the market and help generate long-term value.
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Family enterprises have long been the bedrock of economies. The 2023 EY and University of St. Gallen Family Business Index highlighted the strength of the top 500 family enterprises globally. Together, they generated US$8.02t in revenue and employ 24.5 million people across 47 jurisdictions. Many of these businesses are more than 50 years old and have weathered market volatility over generations, underscoring the extent to which family enterprises are able to maintain their success — and succession — over time.
Such achievements are not left to chance. Often, a set of shared values and commitment to the family form the foundation of their resilience and adaptability. Importantly, leading family enterprises are focused on creating sustainable value for stakeholders, and to that end, being prepared for risks in all forms to stay resilient for the long term.
Companies today are confronted with an expansive, complex and interconnected risk universe. Amid the usual suspects of financial, cybersecurity, reputation, compliance and competitive threats, companies are also facing increased pressure to deal with risks relating to global geopolitics and supply chains, inflation, the workforce, and talents. These uncertainties can put the brakes on growth as companies struggle to see where the next opportunity or disruption will emerge.