Northern Trust Releases Third Business Owner Benchmark
Northern Trust's third Business Owner Benchmark reveals significant insights about business owners' plans for 2025. Despite economic concerns, many are planning major business changes. The survey, conducted in Q3 2024, shows only 8% of respondents are optimistic about the economic outlook, with concerns primarily focused on the political environment (54%), tax policy changes (42%), and global conflicts (34%).
Business owners under 65 are focusing on growth, with 30% planning to expand into new business lines and 28% considering acquisitions. Those over 65 are more interested in selling their business (33%). Notably, 64% of respondents lack confidence in their children's ability to manage inherited wealth and businesses, while 43% hope their business will exist in 100 years.
Il terzo Business Owner Benchmark di Northern Trust rivela importanti informazioni sui piani dei proprietari di aziende per il 2025. Nonostante le preoccupazioni economiche, molti stanno pianificando cambiamenti significativi nelle loro attività. L'indagine, condotta nel terzo trimestre del 2024, mostra che solo l'8% dei rispondenti è ottimista riguardo alle prospettive economiche, con preoccupazioni prevalentemente concentrate sull'ambiente politico (54%), sui cambiamenti nelle politiche fiscali (42%) e sui conflitti globali (34%).
I proprietari di aziende sotto i 65 anni si concentrano sulla crescita, con il 30% che pianifica di espandere in nuovi settori e il 28% che considera acquisizioni. Quelli sopra i 65 anni sono più interessati a vendere la propria attività (33%). È interessante notare che il 64% dei rispondenti non ha fiducia nella capacità dei propri figli di gestire la ricchezza e le aziende ereditate, mentre il 43% spera che la propria attività esista tra 100 anni.
El tercer Business Owner Benchmark de Northern Trust revela información significativa sobre los planes de los dueños de negocios para 2025. A pesar de las preocupaciones económicas, muchos están planeando cambios importantes en sus empresas. La encuesta, realizada en el tercer trimestre de 2024, muestra que solo el 8% de los encuestados son optimistas sobre las perspectivas económicas, siendo las preocupaciones principalmente sobre el entorno político (54%), los cambios en la política fiscal (42%) y los conflictos globales (34%).
Los dueños de negocios menores de 65 años se centran en el crecimiento, con un 30% que planea expandirse a nuevas líneas de negocio y un 28% que considera adquisiciones. Aquellos mayores de 65 años están más interesados en vender su negocio (33%). Notablemente, el 64% de los encuestados carece de confianza en la capacidad de sus hijos para gestionar la riqueza y los negocios heredados, mientras que el 43% espera que su empresa exista dentro de 100 años.
노던 트러스트의 세 번째 비즈니스 소유자 벤치마크는 2025년을 위한 사업주들의 계획에 대한 중요한 통찰을 보여줍니다. 경제적 우려에도 불구하고, 많은 이들이 주요 사업 변화를 계획하고 있습니다. 2024년 3분기에 실시된 설문조사에 따르면, 응답자의 단 8%만이 경제 전망에 대해 낙관적이며, 주로 정치적 환경(54%), 세금 정책 변화(42%), 글로벌 갈등(34%)에 대한 우려가 집중되고 있습니다.
65세 이하의 사업주들은 성장에 집중하고 있으며, 30%는 새로운 사업 분야로 확장을 계획하고, 28%는 인수를 고려하고 있습니다. 65세 이상의 사업주들은 자산 판매에 더 관심이 많습니다(33%). 주목할 만한 점은, 응답자의 64%가 자녀들이 상속받은 재산과 사업을 관리할 능력에 자신감을 느끼지 못하고 있으며, 43%는 자신의 사업이 100년 후에도 존재하기를 희망하고 있습니다.
Le troisième Business Owner Benchmark de Northern Trust révèle des informations significatives sur les projets des propriétaires d'entreprises pour 2025. Malgré les préoccupations économiques, de nombreux entrepreneurs prévoient des changements majeurs. L'enquête, réalisée au troisième trimestre 2024, montre que seulement 8% des répondants se disent optimistes quant aux perspectives économiques, les préoccupations étant principalement axées sur l'environnement politique (54%), les changements de politique fiscale (42%) et les conflits mondiaux (34%).
Les propriétaires d'entreprises de moins de 65 ans se concentrent sur la croissance, 30% prévoyant de s'étendre à de nouveaux secteurs d'activité et 28% envisageant des acquisitions. Ceux de plus de 65 ans sont davantage intéressés par la vente de leur entreprise (33%). Il est à noter que 64% des répondants manquent de confiance dans la capacité de leurs enfants à gérer la richesse et les entreprises héritées, tandis que 43% espèrent que leur entreprise existe dans 100 ans.
Der dritte Business Owner Benchmark von Northern Trust offenbart wichtige Erkenntnisse über die Pläne von Unternehmern für das Jahr 2025. Trotz wirtschaftlicher Bedenken planen viele bedeutende Veränderungen in ihren Unternehmen. Die Umfrage, die im dritten Quartal 2024 durchgeführt wurde, zeigt, dass nur 8% der Befragten optimistisch über die wirtschaftliche Perspektive sind, wobei die Bedenken hauptsächlich auf das politische Umfeld (54%), Änderungen in der Steuerpolitik (42%) und globale Konflikte (34%) konzentriert sind.
Unternehmer unter 65 Jahren konzentrieren sich auf Wachstum, wobei 30% planen, in neue Geschäftsfelder zu expandieren und 28% eine Übernahme in Betracht ziehen. Personen über 65 Jahre sind mehr daran interessiert, ihr Geschäft zu verkaufen (33%). Bemerkenswerterweise haben 64% der Befragten kein Vertrauen in die Fähigkeit ihrer Kinder, vererbtes Vermögen und Unternehmen zu verwalten, während 43% hoffen, dass ihr Geschäft in 100 Jahren weiterbesteht.
- 30% of younger business owners planning expansion into new business lines
- 28% of younger owners considering business acquisitions
- 43% of owners have long-term vision for business continuity
- Only 8% of respondents optimistic about 2025 economic outlook
- 64% lack confidence in next generation's ability to manage inherited wealth
- 25% haven't defined or shared wealth purpose with children
- 64% unfamiliar with perpetual purpose trust ownership structure
Insights
This business owner survey reveals significant strategic shifts in 2025, particularly around succession planning and business transitions. The stark contrast between younger owners' growth mindset (
The data showing
The survey presents important insights into wealth transition challenges facing business owners. The low
The lack of familiarity with perpetual purpose trusts among
2025 promises to be a consequential year for business owners who face decisions about growth, family and legacy
According to Eric Czepyha, Northern Trust’s Director of Business Services, the economy, market conditions and industry trends will always be important factors, but based on years of working with thousands of business owners, the future of these businesses is often largely determined by family dynamics and the overlapping roles of owners, their families and management.
“With this survey, we delve into the ambitions of startup founders to multigenerational family business owners amid a rapidly shifting landscape,” Czepyha said. “We discovered that many respondents are thinking big – for instance, evaluating new areas to grow their business or considering ways to monetize their business, all the while attempting to navigate how to best prepare their children for the wealth they will eventually inherit.”
Cautious about the state of the economy
The survey was conducted in third quarter of 2024 when the Federal Reserve initiated its rate cutting cycle and expectations increased for a “soft landing.” Yet only
Committed to undertaking major changes
While it remains to be seen whether the new administration will help assuage these concerns, business owners will be proactive next year, depending on where they are in their lives. Respondents younger than 65 exhibited a growth mindset with plans to expand into a new line of business (
Cultivating the next generation
Although business owners are committed to instilling the next generation with values such as integrity and gratitude,
Considering alternative ownership structures
Business owners are often driven to succeed for reasons well beyond making money, including keeping their business in the family or eventually transferring ownership to their employees. For
About the Business Owner Benchmark
An online survey was fielded in September 2024 and responses were received from 123 business owners with a median age of 67. The respondents represent small, midsize and large companies from all industries. The resulting report provides a window into their diverse perspectives around how they deploy their wealth and what drives them as they prepare for the future.
Download the full report for additional insights and advice.
Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise, with over
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209027674/en/
Media Contact:
Landis Cullen
312-444-3188
landis.cullen@ntrs.com
Source: Northern Trust Corporation
FAQ
What are business owners' main economic concerns for 2025 according to Northern Trust (NTRS)?
What percentage of business owners plan to expand or acquire new businesses in 2025 according to NTRS?
What percentage of Northern Trust (NTRS) survey respondents are confident about their children managing inherited wealth?
