At the end of 2021, Raiffeisenbank in the Czech Republic became a strategic partner of the Family Businesses Association. The bank wants to focus more on the segment of family enterprises to help them develop their business. The partnership will take place not only in the area of marketing and bank presentation to that market segment but also in support and promotion of the family businesses segment.
“We are aware of the importance of family businesses and their irreplaceable role in the Czech economy, which led us to the idea of becoming a partner of the Family Businesses Association” explains Václav Štětina, Head of Corporate Banking at Raiffeisenbank.
Some changes significantly affect the business. In the short term, entrepreneurs had to adapt very quickly to the situation caused by the coronavirus pandemic, and in the long term, for example, they deal with issues related to generational change. Entrepreneurs who started a business after 1989 are looking for their successors, either in the family or trying to sell the company. And in these situations that it’s time for professional advice that we can offer them. Family enterprises are an attractive market segment for the bank. According to available statistical data, Czech family businesses generate an estimated 40% of GDP, while in the world it is up to 80%. Raiffeisenbank intends to be a partner to these enterprises on the way to achieving their goals.
“The ability to respond flexibly to the constantly changing situation and the willingness to personally accept a reasonable level of risk gave Czech family enterprises the strength and ability not only to overcome the Covid-19 pandemic but also to use it as a springboard for further development. We perceive the great advantage of today’s Czech family businesses over the competition in our practice in the huge personal commitment of the owners and their families in maintaining and developing the operation of the enterprise in crisis conditions. On behalf of the Association of Family Businesses, we welcome this strong partnership with Raiffeisenbank, as it gives us another opportunity to help Czech family businesses even more” says Jan Pavelka, Chairman of the Family Businesses Association.
Source: Bank’s press release from January 11, 2022
