Legacy is a powerful force behind the sustained growth of family businesses. It connects generations, shapes long-term vision, and serves as a source of identity and inspiration.

Based on a survey of 2,683 family business leaders from 80 countries, regions and territories, the STEP Project Global Consortium and KPMG Private Enterprise report reveals an important link between the strength of a family business’s legacy and its long-term business performance.

But while legacies serve as a source of identity and inspiration, the report reveals how they can also have the potential to hinder innovation and change. This is the "legacy paradox": the challenge of balancing traditional values with modern business strategies to build a legacy with future generations in mind.

Robyn Langsford
Global Lead, KPMG Private Enterprise Family Business
Partner in Charge, Family Business & Private Clients
KPMG Australia
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Katherine Karcz
Partner, Family Business & Private Clients, Enterprise
KPMG Australia
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