The personal side of running a privately-owned business

13/01/2020 When you’re responsible for its founding, its success and its future – the ups and downs of running a medium-sized, privately-owned business affect you that bit more.

From finding ways to grow your business to recruiting the next generation of talent and achieving an impressive exit, the journey of a business owner is both testing and atypical.

It is also incredibly personal. The triumphs might bring a broader smile; the setbacks might take a little longer to get over.

Business owners who shoulder responsibility for growing their company and building great teams can often feel let down by advice that does not suit their circumstances, and insight that does not take into consideration the everyday demands in front of them.

That raises issues for global prosperity as the majority of businesses worldwide are privately-owned. It also puts innovation at risk: research from the US found that when a founder is still CEO, a business generates 31% more patents, creates patents that are more valuable, and are more likely to make bold investments to renew and adapt the business model.

From succession to sustainability, international expansion to hiring Gen Z, business owners are continually expected to rise to new challenges and meet customer, employee and market expectations.

To help them do this, we launched ‘Business – It’s Personal’, a way for Mazars to deliver insight on the issues that we know matter most to business owners and managers. The series taps into the first-hand experience and knowledge of our people from all around the world, with the aim of helping organisations thrive in 2020 and beyond.

It includes Mazars experts who have ‘been there, done that’, successfully helping their clients turn ambition into reality. To read the articles in the series, click here.

To see the ‘Business – It’s Personal’ series, go here.

For more on what Mazars does for Privately Owned Businesses, see here.

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