Vietnamese family businesses optimism about growth prospects: PwC

Illustrative image (Source: VNA)

The UK-based audit service supplier PricewaterhouseCoopers (PwC) has released its first survey on Vietnamese family businesses, which showed optimism in their future development.

The survey is part of the PwC’s 10th PwC Global Family Business Survey, which unearths the current thinking and future outlook of 2,801 family business leaders across 87 countries and territories, of which 33 were from Vietnam, representing a perse mix of businesses and industries.

According to the survey, 65 percent of Vietnamese family businesses expect to grow in 2021, and 75 percent expect to grow in 2022

Meanwhile, 33 percent of the businesses think they will experience aggressive growth in 2022 which is higher than both regional and global family businesses surveyed.

Besides, 55 percent of Vietnamese respondents will focus on introducing new products and services, following by increasing use of new technologies (52 percent).

The current operating model among Vietnamese family businesses is concentrated on family and owner managed businesses (52 percent and 36 percent respectively).

However, the survey findings show that in five years, Vietnamese family businesses will shift towards more external involvement in family businesses. In detail, it will transit from owner/family managed businesses to family-owned/ externally-managed or externally-run businesses (increased to 60 percent from 12 percent)./.