Even as dismal economic conditions continue to hamper growth prospects for industries globally, family-run businesses in the country have emerged stronger among others in the year 2012.
As per the latest survey conducted by PricewaterhouseCoopers (PWC), as much as 74% of family businesses in India have witnessed growth in sales figures in the past year against the global average of 65%.
Family Business Survey (FBS) 2012 by PwC noted that Indian family businesses are less affected by the general economic situation in comparison to family businesses abroad.
The survey conducted by PWC also revealed that 8% of family businesses in India have witnessed a fall in their sales over the last year, compared to 19% globally.
"This very well proves that the family business is not just growing as a trend but is also proving to be a major contribution in the growth of economy," stated the PwC report.
The report also noted that trend shows that family business that has been evident in growth since long, is going to have an endless impact on the economy in the future as well.
