Deloitte Private’s inaugural global Family Business Insights Series report spotlights family business growth in Singapore despite uncertainty

Key Highlights:      

• Among all businesses globally with US$100 million+ in revenue, family businesses account for 22%. Within this cohort, the number of family businesses worldwide is projected to grow by 22% between 2020 and 2030.
• These family businesses’ annual revenue is expected to rise 84% over this period, outpacing the expected 59% growth in non-family businesses.
• With the ‘great wealth transfer’ in play, a family business ownership shake-up is underway. In Singapore, 28% of family businesses are targeting outside investment/private equity, 24% are looking to increase non-family management’s ownership, 15% are looking to go public, and 4% expect to sell the business.
• In Singapore, family businesses’ top growth strategy is to grow their existing domestic market share (43%), followed by adopting cost optimisation and efficiency improvements (40%).

SINGAPORE, 13 November 2025 – The release of Deloitte Private’s Family Business Insights Series: Defining the Family Business Landscape, 2025 reveals how family-owned businesses are evolving to fuel long-term growth. Based on a survey of 1,587 family businesses across 36 countries, including 116 in Singapore, as well as in-depth interviews with 30 senior executives globally, the research explores how family businesses are navigating a complex market landscape through innovation, strategic expansion, and leadership transformation.

“The launch of the Family Business Insights Series provides a comprehensive view of family businesses worldwide to better understand their robust growth and how they are evolving their strategies to navigate a rapidly changing world,” says Wolfe TONE, Deloitte Private leader, Deloitte Global. “Family businesses are a driving force of the economy—and Deloitte Global’s research shows they are scaling innovation, expanding across borders, and rethinking ownership to stay ahead of accelerating change.”

Family businesses globally are growing in size and influence, despite headwinds

Family businesses with revenue of at least US$100 million now make up over one in five businesses worldwide (22%). That number—currently 18,087—is expected to climb to 19,744 by 2030, up from 16,194 in 2020, marking a 22% increase over the decade. Their economic contribution is rising as well, with total family business revenue projected to climb 84% from approximately US$16 trillion in 2020 to US$29 trillion in 2030—surpassing the 59% expected growth among non-family businesses. Today, family business revenue stands at US$21 trillion.

In Singapore, 54% of family businesses expect to see a revenue growth rate of more than 10% in calendar year 2025, up from 24% in calendar year 2024. This momentum is unfolding despite a backdrop of uncertainty—family businesses in the country identified cyber threats (72% of respondents), economic uncertainty (64%), and the imposition of tariffs (63%) as moderate/high external risks.

“In an increasingly volatile global environment, family businesses are not only holding their ground, but they are also expanding in scale and influence. Across Southeast Asia, their resilience stands out amid growing challenges. Grounded in deep cultural values of family loyalty and intergenerational responsibility, they continue to adapt and innovate, cementing their role as indispensable pillars of both national and regional economies,” says CHEE Pei Pei, Family Enterprise Leader, Deloitte Southeast Asia.

Driving growth and resilience through domestic market and cost optimisation

To drive growth and reinforce resilience over the next 12 to 24 months, family businesses in Singapore are focused on growing their market share within their existing domestic market (43%) and increasing profitability through cost optimisation and efficiency improvements (40%). They are also investing in technological innovation, such as Generative AI (38%), as well as developing strategic partnerships and alliances (38%).

While family businesses in Singapore typically make the bulk of their revenue in their domestic market, 27% are diversifying by expanding their businesses internationally. The vast majority of those expanding internationally over the next 12 to 24 months are planning do so within Asia Pacific (90%), followed by Europe (53%) and the Middle East (50%). This underscores the perception of Asia Pacific as a bright spot for growth amid a turbulent global economy.

“Globalisation, favourable economic conditions, and rapid technological innovation have propelled family businesses into an era of strong, sustained growth,” says Dr. Rebecca GOOCH, Deloitte Private Global Head of Insights, Deloitte Global. “However, this growth is unfolding against a backdrop of increasing complexity and volatility, driven by rising economic and geopolitical uncertainty, cyber threats, surging input costs, and talent shortages. As a result, risk management and strategic planning are taking centre stage, prompting family businesses to double down on professionalisation, diversify their operations, and accelerate technology adoption.”

The great wealth transfer shifts family business ownership

Looking to the next 3-5 years, 28% of family businesses in Singapore plan to bring in outside investors or private equity, 24% expect to increase ownership among non-family management, 15% plan to go public, and 4% aim to sell their business. While many factors can influence ownership decisions, one key area that family business leaders cited during interviews was the great wealth transfer. As most Singapore family businesses surveyed are in their first (26%) or second (43%) generation of family leadership, the generational transition is expected to shape the future of many family businesses. 

“As we look to the future, many family businesses are honouring their legacy while preparing for what’s next,” says Adrian BATTY, Deloitte Private Global Family Enterprise leader, Deloitte Global. “By investing in innovation, entering new markets, and prioritizing next-generation leadership, family businesses are strengthening succession plans and addressing long-standing talent gaps—key to securing continuity and long-term performance.”
 

About Defining the Family Business Landscape, 2025

Deloitte Private’s global Defining the Family Business Landscape report is the inaugural study in the Deloitte Private Family Business Insights Series. To inform this research, Deloitte Private surveyed 1,587 family-owned businesses worldwide between March and June 2025, capturing perspectives from companies averaging US$2.8 billion in annual revenue. The report also includes in-depth interviews with 30 senior executives from prominent family businesses, offering qualitative insights into the strategies and practices that drive long-term success.

In addition to the survey data, a separate piece of analysis was conducted to produce the family business market sizing data. This data examines the growth of the family business arena between 2020 and 2030, comparing family businesses (including those both public and private) to all businesses (including family and non-family businesses that are both public and private). All the businesses have revenue of at least US$100 million and, for the family businesses, only those where a single family has the controlling vote, sits within the executive leadership/board, and owns a 51%+ stake if it is a private, or a 25%+ stake if it is a public, business is included.

For more information or to access the full report, please visit Deloitte Private’s website.