PETALING JAYA, May 27 (Bernama) —A global survey conducted by KPMG Private Enterprise and the STEP Project Global Consortium (SPGC) found that transgenerational entrepreneurship is scored by family businesses in Asia as the biggest factor influencing legacy building. The survey received responses from 2,683 family business leaders from 80 countries, territories and regions, including 54 respondents from Malaysia.
Malaysia’s family businesses are already witnessing active multigenerational participation in management (38%) with a significant prevalence of transgenerational entrepreneurship (77%). Consistent with other Asia Pacific family business leaders, it appears that family businesses in Malaysia put a relatively equal weight on incorporating family relationships, family entrepreneurship and future generations in their commitment to maintaining entrepreneurial legacy across generations.