What was the impact of COVID-19 on sales?
Pre-COVID
55% Sales growth
55% Sales reduction
COVID Impact
55% Sales growth
55% Sales reduction
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The unprecedented, tumultuous events of the past year have been an extraordinary test of resilience for almost all businesses, including family businesses.
What we learnt is that family businesses with resilience as part of their DNA have risen to meet the challenge. As in any crisis, family owners stood united, defined their commitment to their business and spoke with one voice. Family businesses relied on strong fundamentals - commitment to values, long-term thinking, sensible leverage - to send a strong message to employees, business partners and the public.
Family businesses that demonstrate a commitment to sustainability with correct actions can only strengthen the trust and goodwill which give them the licence to operate.
Our 10th PwC Global Family Business Survey unearthed the current thinking and future outlook of 2801 family business leaders across 87 territories, of which 33 were from Vietnam, representing a diverse mix of businesses and industries. For the first time, Vietnamese family businesses get to share their views and opinions on issues that matter to them. Let's explore the Vietnamese perspectives.
1:10
Family Business Survey 2021 Launch
Explore the data
Filter the data by Vietnam and compare it to the global average.
What are your key priorities over the next two years?
55% Expansion and/or diversification
55% Digital, innovation, technology
55% Evolving/new thinking
55% Sustainability and/or local community
What are your digital capabilities and priorities?
55% Strong, no longer a priority
55% Strong and still a priority
55% Not strong but is a priority
55% Not strong and not a priority
Which of the statements below best describes the way you feel about the role of your family business today?
Delivering sustainable business practices
55% We want to lead the way
55% We are unlikely to lead, but we will play our part when required
Delivering benefits for the planet and human society
55% We need to lead the way
55% It is the role of the government to lead the way
What governance policies do you have in place?
55% Shareholders’ agreement
55% Dividend policy
55% Testament/last will
55% Family constitution or protocol
55% Family employment policy
| Questions and Answers | Global | Vietnam | Asia Pacific | ||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q10. Looking back over the last financial year BEFORE THE COVID-19 PANDEMIC would you say your sales have been | |||||||||||||||||||||||||||||||||||||||||||||||||
| Sales growth | 55% | 33% | 51% | ||||||||||||||||||||||||||||||||||||||||||||||
| Sales reduction | 19% | 24% | 21% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q11. And what do you think the impact of the COVID-19 pandemic will be on your sales? | |||||||||||||||||||||||||||||||||||||||||||||||||
| Sales growth | 28% | 24% | 26% | ||||||||||||||||||||||||||||||||||||||||||||||
| Sales reduction | 46% | 42% | 48% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q21. Which, if any, of the following are the company's TOP FIVE priorities for the next two years? | |||||||||||||||||||||||||||||||||||||||||||||||||
| NET: Expansion/Diversification | 82% | 79% | 82% | ||||||||||||||||||||||||||||||||||||||||||||||
| NET: Digital, innovation, technology | 80% | 82% | 77% | ||||||||||||||||||||||||||||||||||||||||||||||
| NET: Evolving/new thinking | 65% | 67% | 66% | ||||||||||||||||||||||||||||||||||||||||||||||
| NET: Sustainability/local community | 39% | 21% | 30% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q28.SUM. We have strong digital capabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
| Digital strong and no longer a priority | 19% | 9% | 18% | ||||||||||||||||||||||||||||||||||||||||||||||
| Digital strong and still a priority | 19% | 21% | 16% | ||||||||||||||||||||||||||||||||||||||||||||||
| Digital not strong but a priority | 33% | 21% | 31% | ||||||||||||||||||||||||||||||||||||||||||||||
| Digital not strong and not a priority | 29% | 48% | 35% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q33a. Which of the statements below best describes the way you feel about the role of your family business today? | |||||||||||||||||||||||||||||||||||||||||||||||||
| There is an opportunity for family businesses like ours to lead the way in sustainable business practices | 55% | 45% | 52% | ||||||||||||||||||||||||||||||||||||||||||||||
| Family businesses like ours are unlikely to lead, but we will play our part when required | 36% | 45% | 38% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q33c. Which of the statements below best describes the way you feel about the role of your family business today? | |||||||||||||||||||||||||||||||||||||||||||||||||
| In order to succeed going forward, our business is going to need to deliver greater benefits for the planet and human society | 53% | 30% | 52% | ||||||||||||||||||||||||||||||||||||||||||||||
| We will play our part, but it is the role of government not businesses like ours to deliver greater benefits for the planet and human society | 30% | 55% | 31% | ||||||||||||||||||||||||||||||||||||||||||||||
| Q15. Which of the following policies and procedures, if any, do you have in place? | |||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders’ agreement | 47% | 39% | 39% | ||||||||||||||||||||||||||||||||||||||||||||||
| Dividend policy | 37% | 18% | 30% | ||||||||||||||||||||||||||||||||||||||||||||||
| Testament/last will | 34% | 6% | 22% | ||||||||||||||||||||||||||||||||||||||||||||||
| Family constitution or protocol | 28% | 21% | 16% | ||||||||||||||||||||||||||||||||||||||||||||||
| Family employment policy | 23% | 12% | 11% | ||||||||||||||||||||||||||||||||||||||||||||||
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Get in touch
Johnathan Ooi Siew Loke
Partner, Entrepreneurial and Private business Leader, PwC Vietnam
Tel: +84 28 3823 0796
Hoang Viet Cuong
Partner, Entrepreneurial and Private Business, PwC Vietnam
Tel: +84 24 3946 2246