Canadian family businesses came through the economic downturn better than their global counterparts, according to a survey by PricewaterhouseCoopers.

Reflecting on the last 12 months, 66 per cent of respondents said they experienced modest to significant growth in demand for their products/services compared to 45 per cent of their counterparts in other mature global markets.  Only 5 per cent of Canadian companies said they experienced a significant decrease compared to 15 per cent in other mature global markets.

Sixty-six per cent of Canada's family businesses are aiming for growth and expansion in the next 12 months, compared to a higher confidence level of 74 per cent in the 2007. 

PwC found, however, that only 54 per cent of respondents have a formal strategic plan.

When respondents were asked if they anticipate any change in ownership, 27 per cent said yes, within the next five years.  About half (51 per cent) have chosen the next business leader. At the same time, 78 per cent believe they have provisions to deal with both business and family issues in the event of the untimely death of key managers or shareholders.