More expert business advice from Paul George from the Business Families Team at PricewaterhouseCoopers, who explains what it is that makes family businesses such strong performers: "I think what do family businesses do well? Family businesses are fantastically good at building really strong cultures. Really strong cultures that employees and stakeholders buy into big time. Its so much easier to believe that a family that's been running a business for 3 or 4 generations and really, really believe in their product and believe in their business its so much easier to buy into that than it is maybe in a public company that is owned by a different bunch of funds this week to next week and the great public companies really, really make use of that and the families that own them in many ways often have moved away from large parts of the fulltime executive management of the company but the ones that do it well recognise them as having a unique position of being if you like ambassadors of the value of the business both internally and outside the company and that's a very powerful advantage. Where a family manages to articulate the values of the business clearly that's powerful and it's very, very easy for all concerned to buy into that. The other thing that's probably worth talking about is just performance and the data's difficult on relative performance but given that quite a lot of companies that are family owned are public companies, and quite a few surveys have been done on how do they actually do? How does this stuff actually work? Its difficult data and its difficult to read it clearly but they're certainly not underperforming and the majority or surveys seem to show that family ownership is actually pretty much a positive in terms of the performance of a company and there are funds out there that actually pick their investments in terms of favouring family companies because they reckon it's a criteria for performance. Why would that be? Well essentially these companies are operating on a much longer time horizon than companies which are perhaps driven by the surplus and reporting requirements of a widely spread private company, public company rather and the family ownership gives them the luxury to actually look out on eight,10 or 20 at a time horizon and a lot of them take good advantage of that." See more business news television shows from Paul George, as he gives his top expert business advice at http://www.yourbusinesschannel.com Find out more about the very latest show releases, as well as other yourBusinessChannel news by visiting our blog at http://www.yourbusinesschannel.com/blog.aspx