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Governance in family business during COVID-19

By Dr. Vinod Surana With a looming pandemic that is leading economies to lean towards a K-shape recovery, it is apparent that the brunt of the economic crisis is being felt differently across different businesses and industries. A category of business going through unique changes is the family business. Extremely intriguing data points towards the fact that multigenerational family businesses are experiencing the pandemic differently as compared to those in non-family businesses. ‘Banyan Global’, a family business advisory firm surveyed over 190 families from 20 countries across different industries. Majority of the companies surveyed stated that they are negatively impacted by the...

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