A Fruitful Session for Family Business Leaders of Kerala
Thrissur: Family businesses help generate 79 per cent of organised private sector employment and 27 per cent of overall employment after only government and PSUs. The gross output of family-run businesses accounts for 60 per cent of GDP or approximately 90 per cent of India’s industrial output. This was disclosed at the Kerala Family Business Conclave organised by CII Kerala in Thrissur on August 9.
The Family Business Conclave, organised by CII Kerala, was meant to help develop and implement strategies for enhancing the growth of family businesses
Kerala's closely held family businesses are showing good response, but still many are going for strategic stake dilution. Companies that were hitherto confined to the State are going for a pan-India presence while many others are inking strategic tie-ups with leading global players.
In terms of the number of family-owned businesses, India ranks third globally. It is estimated that 90 per cent per cent of the businesses in India is controlled by families. From 'Mom and Pop' kirana stores to large conglomerates and SMEs, one could find any number of family-run businesses. The role of family and the family patriarch is quite important in India.
The objective of the Conclave was to help develop and implement strategies for enhancing the growth of family businesses. In the fast-changing and disruptive world of business, this is a unique time to understand the challenges and opportunities of family business and develop skills and practices to build a lasting family business.
The Conclave brought together family business leaders with rich experience, professional executives, consultants and academicians, and discussed topics like Professionalization, Family leadership, Succession, Family governance, Wealth management in family business, Family entrepreneurship, Ownership, Women in family business and Innovation.
Prof. Kavil Ramachandran, Executive Director, Thomas Schmidheiny Centre for Family Enterprise, Indian School of Business, spoke about the 5D model of a family business and said that professionalization is a process towards achieving a goal and it should be a part of every family business. The Conclave had the presence of T N Prathapan, Member of Parliament, representing Thrissur constituency.
The other key speakers of the Conclave were T S Pattabhiraman, Chairman & Managing Director, Kalyan Silks; M P Sriram, Partner, Aventus Partners; Navas Meeran, Past Chairman, CII SR & Kerala State Council & Chairman, Eastern Condiments Pvt. Ltd.; K Paul Thomas, Chairman, CII Kerala State Council and MD & CEO, ESAF Small Finance Bank; M S A Kumar, Chairman, CII Kerala Family Business Conclave, Past Chairman, CII Kerala State Council & Chief Catalyst, Catalyst 3600; Aju Jacob, Director, Synthite Industries Ltd.; John K Paul, Managing Director, Popular Vehicles & Services Ltd.; Sanjay Paul Antony, Family Business Advisor, Abanel Management Consultancy; Ashok Mani, CEO, Intergrow Brands Pvt. Ltd.; Serah John, Co-Founder and CEO, BlueTimber Music School LLP; Abishek Bindu Madhav, Managing Director, Bhima Jewellery; Joyachan Erinjery, Chairman, CII Thrissur Zonal Council & Managing Partner, Everest Pharma and Mansoor Ali, Vice-Chairman, CII Thrissur Zonal Council & Managing Director, Trichur Surgicals.