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A new report into UK family businesses has found that well over half of them consider improving the digital capacities of their companies to be their main focus in the future.

This research study, called ‘UK Family Business Outlook’, was published by PricewaterhouseCoopers. The company spoke to around 2,800 people in positions of responsibility within family firms and found that 60% consider achieving enhanced digital capabilities to be the most important next step for their businesses. The term ‘digital capabilities’ means the strategies and skills required to flourish in the increasingly online world of business in 2021.

Speaking to Small Business, Suzi Woolfson from PricewaterhouseCoopers stated that the companies that had thrived during the pandemic had been those with well-developed digital presences, and that operations would not return to the way they were before it. She then went on to add:

“So, digitisation is happening from the front office to the back office. During Covid-19, we’ve seen stop gaps created but there’s a long way to go to digitise all of these processes.”

Elsewhere, the study found that 53% of family business owners see the launching of fresh services or products as a significant priority looking ahead, while for 47% of them, a main focus will be on making greater use of the latest cutting-edge business technologies.

Seeking outside advice on technology can be useful for family firms – for example, a family business accountant in Doncaster or any other region will be able to advise on what bookkeeping software would be the best to use.

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