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News from Members EY launches Global Family Business Center of Excellence

EY launches Global Family Business Center of Excellence

by EY July 5, 2013

Website www.ey.com

EY announces the launch of its Global Family Business Center of Excellence, a new online know-how and expertise resource: www.ey.com/familybusiness. The new center showcases EY’s long experience and deep commitment to family businesses and provides access to the insights and consulting teams they need to grow and succeed for generations.

Peter Englisch, Global Family Business Leader at EY, said: “With over 90 years of experience and a professional network spanning 140 countries, we know that many family businesses from different countries share similar advantages and face common challenges. Today, 90% of our clients are private or family owned businesses”.

The Family Business Center provides access to the unique “growth DNA of family business” analysis model. The model has among its key areas of focus relevant for Family Businesses: managing capital, managing and retaining talent, sustaining growth and profitability, balancing risk, next generation planning and effective tax management.

"In Romania, family businesses have gained momentum in the interwar period, but discontinued their entrepreneurial mission too early to develop a tradition in this respect. Today family businesses represent a large portion of private companies in Romania. Most of them are small-scale, but there are thousands of family businesses that grew and developed with great success, becoming nationally and internationally recognized companies. At this point, we are already talking about a second generation of entrepreneurs who are ready to take over the family businesses created during the last 20 years. The transfer is made from a generation of entrepreneurs born and educated before the '90s to a generation that has evolved in a fundamentally different environment, exposed to fast-paced cultural changes." says Bogdan Ion, Country Managing Partner, EY Romania.

In today’s economy – as companies look further afield for growth, the EY Family Business Center becomes a valuable connection and information source to our integrated global network of family businesses. Therefore, wherever someone is looking for opportunities, there is an entire network and pool of know-how, expertise and consultancy that can be immediately accessed: www.ey.com/familybusiness.


About EY
EY is one of the world's leading professional services firms with approximately 167,000 employees in 700 offices across 140 countries, and revenues of approximately $24.4 billion in 2012. Our network is the most integrated at global level and its vast resources allow us to help our clients benefit from every opportunity. In Romania, EY has been a leader on the professional services market since its set up in 1992. Our over 450 employees in Romania and Moldova provide seamless assurance, tax, transactions, and advisory services to clients ranging from multinationals to local companies. Our offices are based in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau. For more information, please visit www.ey.com

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