Busting the business crash diet myth

Family businesses have focused on creating a leaner cost base as a means of boosting productivity, but slimming down in the short-term will only work if there’s also long-term sustainable change.

According to the 2013 KPMG and FBA Family Business Survey, 72 per cent of family businesses reported they felt they were outperforming their competitors in the area of productivity. This may be attributed to their entrepreneurial nature and constant drive for innovation in an effort to compete against larger players. While it’s great news that family businesses feel they are succeeding, productivity is an area that needs constant attention to ensure changes can be sustained as day to day operations evolve.

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