Bangkok 3 Aug – SET-Partner Organized a big seminar on family business “The 1st SET International Conference on Family Business” for the first time in Thailand Pointing out that 90% of family business statistics have been passed down to no more than the 3rd generation. The CEO of Carabao Group believes that the more family businesses enter the capital market, the more efficient they are.
The Stock Exchange of Thailand (SET) together with partners organizes a big seminar on family business “The 1st SET International Conference on Family Business” under the concept of “Family Business in the Changing World” and invites “real” experts in family business circles. Thai Join to exchange opinions on August 3-4, 2023, from 9:00 a.m. to 5:30 p.m. at Grand Hyatt Erawan Hotel, Bangkok.
said the opening family business It is very important to the economy. But passing a family business from generation to generation is not easy. According to statistics, 90% of family businesses cannot be passed beyond the third generation. In addition, family-run companies will face challenges from rapidly changing external factors. and important factors that make the family business grow steadily in the future Most of them come from internal factors. whether succession planning Organizing 5 structures or communicating to create ties between family members in business administration. and manage family wealth Including giving importance to ESG issues like any other business. Emphasizes that all sectors recognize the importance of family businesses, helping to support and create mechanisms Including an appropriate environment for Thai and regional family businesses to be strong. Growing to be the main force of the Thai economy It is believed that this event will lead to cooperation in all sectors. for the development of a strong family business to grow sustainably forever
Prof. John A. David, President and Founder of the Cambridge Family Enterprise Group and Director of Family Enterprise Programs at MIT University, delivered a video conference session titled “The Future of Family Enterprise and How They Can be Successful in New World Order ” by considering that family businesses in different regions around the world face the same problem. Is passed on to the 3rd generation, both Europe, America and Asia, with the 1st generation creating the 2nd generation as an extension And when passing it on to the 3rd generation, there will be a problem, leading to an important question for the family business how to make the business grow sustainably. More than the 3rd generation, there are companies that can do both in Thailand and abroad, but not much. Looking at the heart, there are 3 important issues that make the family business sustainable, consisting of how to make the business grow continuously (Growth). , develop abilities and skills (Talent) , And there is one (Unity) of the family. and from generation to generation
Mr. Soraphol Tulyasathien, Deputy Manager of the SET, said that the SET sees the importance of promoting family businesses to grow systematically. therefore working with partners to enhance the potential of family businesses in the entire ecosystem. Currently, there are 451 family-run listed companies, representing 57% of all listed companies and 43% of the market cap when looking at IPOs over the past 7 years. Found that 70% are family businesses. There are a total of 920,000 jobs and 86 family businesses are listed on the Sustainable Stocks (THSI) list, representing 50% of the total number of companies in THSI. On average, it is a family business that belongs to the 3rd and 4th generations, but there are many companies that belong to the 1st and 2nd generations. When a family business enters a listed company There will be more executives outside the family. For family businesses in the capital market Most of them are in the food and beverage business category, commercial category, Medical, Personal and Medical Supplies Especially in the Market for Alternative Investment (mai), there will be quite a large proportion of family businesses.
Mr. Sathien Sathirathamma, Chief Executive Officer of Carabao Group Public Company Limited, sees family businesses as the most efficient and effective businesses. because the owner manages himself closely which is important in making business grow And handed down from generation to generation, that is, there must be a standardized, clear, transparent management system that can be traced every step of the way, a good company structure, and have efficient personnel. Therefore, bringing a family business to be listed on the stock exchange Therefore, it is one way to support a good and transparent management system. There is a structure that is conducive to accepting good and talented people to work. .Thai News Agency
Source: Thai News Agency