Family Business: Leaders think smarter in turbulent times

Sustaining business growth in a challenging marketplace requires a robust, efficient strategy, as leading professional advisers tell John Daly

Seven out of 10 Irish businesses are family-owned, employing more people than the State and foreign businesses combined, and contributing €19bn to the Exchequer. Photo: iStock

Warren Buffett, the ‘Oracle of Omaha’, isn’t just the CEO of one of the world’s most successful companies in Berkshire Hathaway — he’s also noted for his frequent offerings of business wisdom.

One of his more famous sayings has some relevance for hard-pressed Irish family firms of 2024 as they cope with rising wage demands, increased costs and new employment regulations.