2023 U.S. Family Business Survey

The notion of how to build trust in business is changing—fundamentally and rapidly. Due to powerful demographic shifts, most of today’s customers and employees hail from generations—the millennials and gen Z—whose values differ from those of baby boomers. At a basic level, the formula for building trust is expanding. When it comes to the new measures for earning trust, family businesses will need to do a much better job. These takeaways from the PwC’s Global Family Business Survey confirm that trust is a vital competitive advantage, one that requires strategy and diligence to build.