Deloitte Private Survey Reveals Board Governance, Succession Planning, and AI Adoption Top the Agenda for Family-Owned Enterprises

NEW YORK, July 16, 2025 /PRNewswire/ -- A Deloitte Private survey of family enterprise leaders revealed that increasing the use of AI (42%) and technology investments (37%) are the strategic priorities over the next year. Meanwhile, operational priorities are focused on increasing profitability through cost improvement (49%), increasing productivity (48%), and mitigating risk (48%).

The study, Private Company Outlook: Family Enterprise, surveyed 100 family enterprise leaders to understand their priorities around board governance, succession planning and tech adoption over the next 12 months.

Key Findings:

• Boards target AI and tech expertise. As companies look to find qualified candidates in emerging tech fields, two-thirds (66%) either already have or are in the process of adding board members with technology and emerging technology expertise. Meanwhile, respondents shared that the main barriers to adding board members with tech experience were difficulty finding suitable candidates (46%) and the limited understanding of emerging technologies among current board members (42%).
• Organizations cite challenges with preparing the next generation for leadership. While 49% of leaders report feeling well or very well prepared for leadership succession, a significant number face hurdles including a lack of next generation interest (37%), unclear selection criteria (31%), and leadership skill gaps (31%). The top methods used to position next generation leaders for success include formal education (52%), on-the-job training (48%), and mentorship (45%).
• Smaller family businesses are planning more M&A moves. Around half of all respondents said their organization aims to use M&A strategies to strengthen supply chains (51%) and expand market share (48%) – with nearly 60% considering public markets as a funding route. The survey also found that family enterprises with annual revenues from $100 million-$500 million were more likely to use M&A to strengthen their supply chain (57%) compared to those with $500 million or above in revenue (43%).
• Organizations seek structure, as formal governance gains ground. A strong majority of family enterprises have formalized their governance through structures like family councils (73%) and governance frameworks (83%), demonstrating a commitment to aligning business and family interests.

"Family enterprises are navigating a pivotal moment – balancing the need to prepare the next generation of leaders with the imperative to invest in transformative technologies to keep their organizations competitive now and in the future," said Laura Pearson, US Family Enterprise Leader, Deloitte Private. "We're seeing families move beyond informal decision-making to adopt clear governance frameworks that align family values with business goals, make bold investments in technology, and seek board directors with AI fluency and sector-specific expertise. These efforts can enhance generational insights and help ensure the business is equipped for innovation and long-term growth."

About the survey
The survey of 100 family-owned company leaders was conducted online by an independent research company between April 28th and May 2nd, 2025. Respondents represented C-level, president, board member, and partner/owner roles at family-owned companies in the US with annual revenues of US$100 million to US$1 billion+. For more information about this survey, please visit: Private Company Outlook.

Deloitte Private serves the unique needs of private companies and their stakeholders by leveraging the full depth of Deloitte's technical experience and industry capabilities to serve private enterprises, family-owned businesses, private equity portfolio companies and emerging growth companies. Visit us at https://www2.deloitte.com/us/private or follow us on LinkedIn.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters for our people, clients, and communities. We bring together distinct talents, technologies, disciplines, and an ecosystem of alliances to help tackle today's most complex business challenges and drive long-term progress. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing 180 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 460,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

SOURCE Deloitte