Family businesses in Singapore are poised for significant growth, with 54% expecting a revenue increase of more than 10% in 2025, according to Deloitte Private’s inaugural Family Business Insights Series report. This optimistic outlook comes despite challenges such as cyber threats, economic uncertainty, and tariffs.
The report, based on a survey of 1,587 family businesses across 36 countries, including 116 in Singapore, reveals that family businesses are navigating complex market conditions through innovation and strategic expansion. Wolfe Tone, Deloitte Private leader, noted, “Family businesses are a driving force of the economy—and Deloitte Global’s research shows they are scaling innovation, expanding across borders, and rethinking ownership to stay ahead of accelerating change.”
Globally, family businesses with revenues of at least $100m now constitute 22% of all businesses, with their numbers expected to grow by 22% from 2020 to 2030. In Singapore, family businesses are focusing on expanding their domestic market share and improving cost efficiency. Additionally, 27% are looking to diversify by expanding internationally, primarily within Asia Pacific.
The report also highlights a shift in ownership due to the ‘great wealth transfer’, with 28% of Singaporean family businesses planning to seek outside investment or private equity. Adrian Batty, Deloitte Private Global Family Enterprise leader, emphasised the importance of innovation and next-generation leadership in securing long-term success.
As family businesses continue to adapt and innovate, they remain vital pillars of both national and regional economies, reinforcing their resilience amid global challenges.
