Half of family businesses in Romania expect over 10% yearly growth

More than half (53%) of the family businesses in Romania expect a yearly growth rate of over 10% in the next five years and 68% expect to diversify their business in this period, according to a survey presented by Mihaela Mitroi, Partner and Fiscal Consultancy Lead at PwC Romania. However, some 68% of the family businesses in Romania are concerned about finding talented people to work for them, local Agerpres reported. In Romania, 74% of the family members are involved in the family business, whereas abroad the trend is to bring people from outside the business in the board of directors, to bring an objective view of the business. Thus, family businesses in Romania have two major challenges: the owners are too emotionally involved in the business and succession is often difficult. The oldest family businesses in Romania are only quarter-century old editor@romania-insider.com