Singapore family firms expect strong double-digit growth in 2025

28% of Singapore family businesses are open to private equity or outside investment.

More than half of Singapore’s family businesses expect double-digit revenue growth in 2025 despite mounting external risks, according to a report from Deloitte.

The survey found that 54% of local respondents anticipate over 10% revenue growth next year, up sharply from 24% in 2024. Key external risks cited by Singapore firms include cyber threats (72%), economic uncertainty (64%), and tariff-related impacts (63%).

In terms of growth strategies over the next 12 to 24 months, Singapore family enterprises are focused on domestic market share gains (43%), cost optimisation (40%), and investments in generative AI and technology (38%).

Partnerships and alliances were also a key avenue (38%), whilst 27% said they plan international expansion, primarily targeting Asia-Pacific (90%), followed by Europe (53%) and the Middle East (50%).

On ownership and capital plans, the report showed that 28% of Singapore family businesses are open to private equity or outside investment, 24% aim to increase non-family ownership among managers, and 15% are considering initial public offerings.

Most respondents are from first- (26%) or second-generation (43%) firms, suggesting succession and capital strategy are timely issues.

Globally, the study estimates that family-owned businesses with over US$100m in annual revenue represent 22% of the total large-company universe and are projected to grow 22% between 2020 and 2030.

Over the same period, their combined revenue is expected to increase by 84% to US$29t, outpacing the 59% growth of non-family businesses.

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