Resilient Family Business 2022

The results of the Resilient Business of the Year 2022 survey were announced on 22 September 2022. Organised by the Association of Family Businesses with Raiffeisenbank as its main partner, the survey describes the attributes of resilience and examines whether, and in which areas, Czech family businesses are resilient. Of 105 businesses, five were identified as the most resilient, including SATTURN HOLEŠOV spol. s r.o.

“As economic and energy crises approach, resilience is a fundamental requirement and pillar for the continued success of family businesses. In today’s turbulent world, it must be cultivated and strengthened. The survey results provide a basis for assessing Czech family businesses’ overall resilience and readiness for the future,” says Mgr. Jan Pavelka, LL.M., lawyer and Chair of the Association of Family Businesses.

“High uncertainty caused by unexpected external influences, fluctuating market conditions and difficulty predicting developments tests companies’ resilience, their ability to build reserves, and their ability and willingness to prepare alternatives and adapt. Both the survey and our own experience show that family business resilience is closely linked to the owner’s personality and ability to share a vision and strategy with the whole team. The survey not only shows the strong resilience of family businesses as an important part of our economy; it also offers participants a unique opportunity to compare themselves with others, identify shortcomings and find opportunities to strengthen their resilience.” 

Family businesses are most often founded on industry knowledge and usually involve two to four family members. They most frequently identify perseverance, loyalty and hard work as strengths, and a shortage of people as a weakness. These findings come from the Association of Family Businesses’ Resilient Business of the Year 2022 survey.

“This phenomenon is becoming more common as management passes to the younger generation. They do not perceive language as a barrier and are comfortable finding new business partners, including through online technologies, digitalisation trends and data intelligence,” adds Václav Štětina, Director of Corporate Banking at Raiffeisenbank, a partner of the Association of Family Businesses.