Private and Family Business Survey in Russia
Private and family businesses in Russia have shown one of the highest growth rates in the past year, matching those of other BRICS countries. Russian private businesses are more likely to be aiming for further growth over the next five years.
Although the overall economic picture is of general concern to the Russian private and family company sector, many companies take an optimistic view and have large-scale plans for the future. Fully 23% of respondents expect their companies to see rapid, intensive growth over the next five years.
The priorities for Russian private and family businesses largely coincide with those of their peers in other countries: ensuring the company's long- term future, attracting high quality skills, and enhancing the level of professionalism in company management. However, Russian companies are less focused on fostering innovation.
Representatives of private and family business in Russia believe that their sector plays an important role in national economic and social development.
Russian private and family companies are less focused on conflict resolution than their foreign peers. Moreover, only 5% of such companies have a robust, well-documented succession plan in place.