EY: Creating long-term value and exports, at the top of the family business agenda

The export activity of Greek family businesses and the creation of long-term value, were the subject of EY Greece’s participation in the 3rd Family Business Conference, organized by Palladian Conferences, on Tuesday, November 30 in Thessaloniki. EY Greece supported the event as an Exclusive Gold Sponsor.

Ms. Eftychia Kaselaki, Partner in the Department of Consulting Services and Human Resources Consulting, and Head of Private Sector of EY Greece, focused on the creation of long-term value by family businesses. As he explained, various pressures and new priorities are transforming the business agendas worldwide, leading to the adoption of features that meet those of the family, such as a long-term vision. In particular, they are increasingly focusing on a new corporate goal that puts their stakeholders at the center, and aims – beyond financial results – to create long-term value for customers, people and society.

Corporate governance, the speaker stressed, is emerging as a critical factor for the long-term value creation agenda of family businesses, but also for their overall development, with particular emphasis on the characteristics of the board, where the participation of independent experts is important. ensuring diversity and pursuing “healthy” disagreements, identifying and preparing future leaders and successors, risk oversight, long-term pay schemes, key stakeholder relationships – staff, customers , suppliers, local communities – as well as the transparency and authenticity of information that communicates about their work and can attract quality capital.

In closing, Ms. Kaselaki listed seven factors for success that family businesses should consider: offering to society, investing in innovation and technology, harnessing the talents of the next generation, protecting the environment, leveraging the expertise of external partners, passion for what they do and, finally, a commitment to their corporate purpose.

In the last section of the conference, Mr. Nikos Bris, Director at the Department of Corporate Strategy and Transactions Advisors of EY Greece, coordinated a panel discussion, which was attended by Messrs. Michalis Vafopoulos, CEO & Founder, Linked Business SA, Vassilis Dasteridis, CEO & Co-owner, DASTERI SA and 2nd Vice President of the Hellenic Industries Association (SVE), Symeon Diamantidis, CEO Diopas SA and SEV Financial Supervisor, and Ioulia Haida, Deputy CEO , IKTINOS HELLAS SA and President of Marble Companies of Macedonia-Thrace. The panel examined issues related to the export activity of Greek family businesses, such as the internal and external obstacles they face, the incentives for the development of extroversion, innovation, competition from foreign markets, the brand name “Greece”, the issues ESG, human resources and succession.

In his introduction, Mr. Bris, after noting that Greek exports have grown significantly in the last ten years, stressed that the extroversion of Greek companies continues to be a bet for the entire national economy and entrepreneurship, as, due to the small and very small the size of the majority of them, can not be internationally competitive.

Mr. Bris stressed that the transformation of the business model of Greek companies, as well as their growth through partnerships and mergers and acquisitions, are the main moves to strengthen exports and their overall competitiveness.

Finally, the speaker noted that, in order to meet the challenges of a changing global market, Greek companies will have to invest in knowledge, innovation and technology, and position the final consumer, but also the issues of environment, society and governance, at the heart of their strategy.