Global expertise, local knowledge
21 Sep 2017
Reports reveal that family business are more profitable and with great values to exploit, however, at the time of passing it on to the new generations, the entrepreneurs may find serious obstacles to keep updated what was very hard to build.
Given the need to integrate the debate around the subject, last 14 September in Asunción, Paraguay, PKF Controller Accountants & Auditors, with its Managing Partner Walter Hermosa , opened a space for debate in which Horacio Arredondo, Executive Director of the Business Center Relatives of the Adolfo Ibañez de Chile University, spoke about the generational transfer of family enterprises and its challenges.
In front of a complete Auditorium of more than 38 attendees, Arredondo Arredondo said that in this field, the focus is on the company and how to grow it, and when it comes to transmitting the ownership to the next generations, it is necessary to think not only of the company, but of the family itself, as an entrepreneur’s family. To be able to assume these challenges he defined it not only as the achievement of economic objectives, but also as objectives that he considered social-emotional. Along the Seminar, it was pointed out that new ways of doing business should begin to be fostered to include the new generation with innovation. "It is to change the question of 'do you want to work within the company?' To 'how do you want to create value for this family of companies?'" -he added. Arredondo also explained that much of the financing of new businesses comes from families, and as long as the property goes on this way, that money will continue spinning the economy of their country.
"Generally, family businesses bet on their countries. It is more profitable. It has challenges, "he said. The expert described in this way the family businesses, noting that these are more profitable than the average. As for those who make it, he said that they know more about the business, get more involved, and are more cautious about it costs.
"That makes the business successful in the end. I think that while that entrepreneurship is doing well, the society is doing well. The challenge is to understand how the growth of the country makes possible it expands to the whole society" he concluded. Hector Osorio from the PKF Chile Office and Sergio Villagarcia, PKFI Regional Director from Latin America were also part of the Seminar.
It was an excellent Working Day and joint initiative that we hope we can repeat in other countries of the Region.
PKF Controller Contadores & Auditores
Dr. Cirilo Cáceres Zorrilla N° 1591 esq. Papa Juan XXIII
Tel: +595 21 60 30 44
Fax: +595 21 60 30 44int. 115
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