Purpose, agility and legacy: Kellogg’s Ward Center and PwC reveal what drives high-growth family enterprises

In a time of economic uncertainty and rapid technological change, family businesses that embrace agility and purpose are outperforming their peers. That’s the key takeaway from the newly released PwC 12th Global Family Business Survey, conducted in collaboration with the John L. Ward Center for Family Enterprises at the Kellogg School of Management.

The survey, which gathered insights from 1,325 family businesses across 62 countries, reveals that while only 25% of family firms achieved double-digit growth in the past year — down from 43% in 2023—those that are agile and purpose-driven are significantly more likely to thrive.

But the story behind these numbers is deeper — and Kellogg’s Ward Center is helping to tell it. 

The Ward Center’s role: Elevating the strategic value of family enterprise 

Led by Professor Matt Allen, clinical professor of family enterprises and executive director of the Ward Center, Kellogg’s contribution to the survey goes beyond data analysis. The Center brings decades of expertise in understanding the unique dynamics of family-owned firms — how values, legacy and long-term thinking shape business strategy. 

“High-growth family businesses are embracing their family roots rather than shying away from them,” said Allen. “These top performers leverage a strong sense of purpose, concentrated ownership, a long-term investment approach, and concern for their reputation. When managed effectively, family businesses are uniquely positioned not just to withstand uncertainty but to thrive.” 

Allen’s insights underscore a central theme of the research: that purpose isn’t just a guiding principle—it’s a strategic asset. Family firms with a clearly articulated purpose are twice as likely to pursue aggressive growth and significantly more likely to prioritize innovation and long-term goals. 

“Long seen as more resilient than listed peers, many family businesses are now under mounting pressure,” said Jonathan Flack, Global Private Leader, PwC US. “Shifting trade policies, supply chain uncertainty, and market volatility are seeing family businesses veer on the side of caution – prioritizing reputation and legacy. While growth remains robust, the percentage of achieving historic double-digit growth has fallen. Few businesses are immune to such external shocks – but family businesses that are agile and purpose-driven continue to outperform their peers, highlighting important strategic takeaways for businesses at-large.” 

Navigating volatility with purpose 

The survey also highlights a cautious shift in strategy among family businesses. With market volatility rising, 23% of respondents said they are focused on stabilizing their core business — up from 20% in 2023. Meanwhile, only 3% are actively seeking to reinvent their business models, despite 61% identifying AI as a growth opportunity. 

This tension between tradition and transformation is where the Ward Center’s research is especially impactful. By helping family enterprises align their legacy with innovation, the Center equips leaders to make bold decisions rooted in shared values. 

“Family firms that articulate a shared purpose, embedded both within the ownership and the organization, often exhibit sharper strategic focus,” Allen noted. “That purpose acts as a unifying vision, guiding decision-making and aligning stakeholders across generations.” 

Unlocking growth: Four strategic levers 

The survey outlines four key areas where high-performing family businesses excel: 

• Scaling purpose: Codified purpose drives growth and alignment. 
• Embracing structural agility: Centralized decision-making enables faster pivots. 
• Activating long-term capital: Patient capital becomes a growth engine. 
• Protecting reputation: Legacy is both a shield and a lever for growth. 

These findings reinforce the Ward Center’s mission: to help family enterprises harness their unique strengths to lead with impact. 

A partnership for the future 

As family businesses continue to shape the global economy—representing two-thirds of global GDP and 60% of jobs—the collaboration between PwC and Kellogg’s Ward Center offers a roadmap for sustainable success. It’s a partnership rooted in research, driven by purpose, and focused on empowering the next generation of family enterprise leaders. 

About PwC’s 2025 Global Family Business Survey  

PwC’s 2025 Global Family Business Survey is an international market survey of family businesses and how they perceive their companies and broader business environment. Conducted in collaboration with the John L. Ward Center for Family Enterprises at Northwestern University on behalf of its Kellogg School of Management, the survey interviewed 1,325 family businesses across 62 countries and territories between 1 April and 17 June 2025. Respondents comprised businesses ranging from under US$10 million in revenues (18%) to multi-billion-dollar enterprises (9%). Over half (54%) report annual revenues of more than US$51 million (with 41% of more US$101 million). Manufacturing accounts for 34% of the businesses surveyed, and 29% are in consumer goods, with the rest coming from financial services, technology and healthcare, among other industries. See the full global press release.  

About PwC  

At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at www.pwc.com.