Only 63% of family businesses in Romania have plans for the future of the business, such as shareholder agreements (39%), dividend policies (39%), emergency and contingency procedures (15%), or wills (12%), according to the PwC Global Family Business Survey 2023. By comparison, 69% of family businesses in CEE and 81% globally have such arrangements.

The succession is secured in Romania rather on the base of trust than formal rules – and this is because the ecosystem of family businesses in Romania is still young, PwC reasons.

On the upside, the level of trust between family members is generally considered high in Romania, with 74% of respondents saying there is family alignment on the direction of the company (compared to 59% overall).

And if there’s no alignment, this shouldn’t be a problem, the study seems to suggest. Only 58% of family businesses in Romania say they specifically want to ensure the business stays in the family for the long term, compared to 74% in Central and Eastern Europe (CEE) and 66% globally. 

iulian@romania-insider.com

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