The Start-up Families

Start-ups are creating wealth the same way that business families used to, but old family businesses are also evolving with the times

BY K.V. KAMATH, CHAIRMAN, NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT

WE NEED TO look at modern family businesses from a different perspective than the old families. A fair bit of transformation and professionalism is happening there. But they are grappling with succession—in essence, how a family structure, or a family without a formal structure, runs a business moving forward. We are seeing this struggle in a number of business groups. But the most interesting thing in terms of family businesses will be the new start-ups. All of these began as a single person starting a firm, or a husband-and-wife team, or a group of co-founders. They will now evolve. How will this evolution progress? My answer to this is very simple. We have leapfrogged from the time when families created wealth. Yes, there are still families who have created and will continue…

You're reading a preview of

Business Today (Digital) - 1 Issue, 18 September 2022

DiscountMags is a licensed distributor (not a publisher) of the above content and Publication through Zinio LLC. Accordingly, we have no editorial control over the Publications. Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties, including those made in Publications offered on our website, are those of the respective author(s) or publisher(s) and not of DiscountMags. DiscountMags does not guarantee the accuracy, completeness, truthfulness, or usefulness of all or any portion of any publication or any services or offers made by third parties, nor will we be liable for any loss or damage caused by your reliance on information contained in any Publication, or your use of services offered, or your acceptance of any offers made through the Service or the Publications. For content removal requests, please contact Zinio.