According to PwC, Singapore family businesses are “confident about turning the corner" in the next two years, with 64% expecting growth this year and 90% expecting growth for 2022.

The findings are a result of PwC’s Global Family Business Survey 2021. The Singapore report is based on 80 interviews with family business leaders and decision-makers between Oct 5 and Dec 11, 2020. 

Overall, Ng Siew Quan, Asia Pacific leader, entrepreneurial and private business at PwC Singapore, says that the survey results this year are not significantly different from past years, which may indicate that family businesses have not shifted their thinking drastically despite the circumstances caused by the pandemic.

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