How would you describe the financial performance of your family business?
Considering the current situation of my family business I would say the company is performing well financially. The business has hit because of the covid pandemic. The business has shown profits even in the years when there was a lockdown imposed in India due to the pandemic but the growth rate had gone down.
In what ways are your family’s economic needs in conflict with the family business’s financing and investment needs?
Because it is a family-owned business, the majority of the funding originates from the partners. Because of the rising rate of inflation, the company's owners and employees believe they should receive a larger share of the earnings. If more earnings are shared, the company will have to find alternative ways to invest money in the business's growth, such as loans, which will result in interest being paid.
What transition do you envisage for your family business’s financial investment and management needs in the next decade?
In the next ten years, I believe we will aim to take our family firm public and seek funding to help it grow and expand. The family members will have the bulk of the market share, but certain shares of the company will be sold to obtain investment in the company.