Sustainability
Family Business Association is proud to be uniquely positioned to show leadership and act on building a more sustainable future. We actively promote business practices that enable sustainable economic growth while delivering long-term value for all family business stakeholders.
Long-term thinking
Family businesses are unique because they think in generations. They understand that success in business
is more like a marathon than a sprint. Many family businesses are entrenched in the community and view themselves as custodians and stewards of their businesses and families.
Long-term thinking is needed so wealth can flow into future generations and a family legacy is preserved. And while some family members may no longer work in the business, they will still have emotional and financial connections.
Prioritising long-term gains over short-term profits is something family business leaders do every day. Choosing to operate their business with a sustainable approach makes business and family sense.
Community contribution
Family businesses already have the edge over their competition when it comes to trust. They have strong ties to the community and are well-recognised and respected.
Family-owned businesses are embedded in the community and have a unique relationship that large corporations simply can’t replicate.
Community and sustainability are inherently intertwined. Making a commitment to the community is making a commitment to sustainability. This is what family businesses do time and time again.
Leadership approach
Family business creates leaders that are driven by core family values, not just short-term profits. Up to 70% of businesses in Australia and New Zealand are family businesses, employing 50% of the workforce*.
As a collective, family business has serious influence, and through- our advocacy, we are using that influence to drive change.
***KPMG and Family Business Association Survey of Family Businesses 2009 (in conjunction with Bond University)
