Family businesses account for 22% of all businesses globally with annual revenue of US$100 million or more. This currently totals 18,087 family businesses, up from 16,194 in 2020. Adjusting for macroeconomic factors, this number is expected to grow to 19,744 by 2030, reflecting a 22% increase between 2020 and 2030. Europe is expected to be the fastest growing region, with estimates that the number of family businesses will rise 12% from 4,084 in 2025 to 4,577 in 2030. Meanwhile, Asia Pacific currently has the most family businesses in the world, 7,595. This compares to 5,152 in North America, 4,084 in Europe, 528 in the Middle East, 352 in South America, and 377 in Africa.

All businesses globally currently generate an estimated US$109 trillion in revenue, with family businesses accounting for 19%, or US$21 trillion, up from US$16 trillion in 2020. Family business revenue is projected to grow to US$29 trillion by 2030, reflecting a rapid 84% rise between 2020 and 2030—notably outpacing the expected growth in non-family businesses at 59%. Family businesses in North America and Asia Pacific are projected to see the greatest revenue gains over this period, with revenues expected to rise by 97% to US$12 trillion and US$9.0 trillion, respectively.

Welcoming a shift in family business ownership, over a quarter (26%) of family businesses are currently targeting outside investment/private equity, while 19% are looking to increase non-family management’s ownership, 12% are looking to go public, and 3% are selling the business altogether. While ownership changes can be prompted by multiple factors, interviews pointed to one above all else: the great wealth transfer, which is causing a shake-up in family business ownership/leadership as the current generation looks to step down.

While 2024 reflected an average global growth rate in family business revenue of 8%, respondents anticipate an uptick to 12% in 2025 and 14% in 2026. To achieve this growth, family businesses’ top- ranked strategy, adopted by 40% of those surveyed, is to invest in technological innovation, such as AI, to improve efficiency, reduce costs, and scale up initiatives.

With the European Union offering a single market of 450 million+ people, Europe is presently family businesses’ top destination for expansion, with over half (51%) of businesses planning to grow their operations in the region over the next 12 to 24 months. North America comes in a close second, with 48% looking to expand there, followed by 40% in Asia Pacific, 28% in the Middle East, 28% in South America, and 17% in Africa.

Businesses led by women CEOs, which make up 23% of those surveyed, experienced somewhat higher revenue growth in 2024 at 10%, compared to 8% for men. Supporting their growth, women employ risk mitigation tactics at a higher rate than men across all strategies (e.g., conducting regular risk assessments/ audits, investing in cybersecurity, establishing contingency plans) and they adopt governance mechanisms at a higher rate than men (e.g., having a family charter, a family board/council).

At the time of the survey, family businesses identified economic uncertainty as their top external risk, with 69% of respondents rating it as a moderate/high risk, and 68% saying it was causing delays in key business investments and growth initiatives. Another 73% note that geopolitical tensions are contributing to economic volatility/uncertainty, while 70% say that the imposition of expansive tariffs will hurt the economy/their business.

Cyber threat concerns also top the risk charts, with 69% ranking it a moderate/ high external risk and 61% ranking their unpreparedness for cyberattacks a moderate/high internal risk. In response, 42% of family businesses are currently upgrading their cybersecurity defenses and data governance.

Family businesses’ average turnover rate hit 20%, with nearly two-thirds (64%) reportedly struggling to attract and retain talent. To remedy the problem, family businesses are increasingly embracing the work-from-home model (76%) and, according to interviews, focusing on offering competitive short- and long- term compensation programs, career progression, and a positive and inclusive work culture.

Family businesses utilize a range of governance approaches, with the most popular being to hold regular family meetings (43%), have a family board/ council (41%), and install ethical guidelines (41%). The most widely cited governance challenges family businesses currently face relate to uncertainty over who has decision-making authority (37%) and succession planning for leadership transitions (36%).