Global Financial Crisis (GFC)

The GFC has adversely affected 35.7% of family businesses leading them to cut costs, 51.8%; defer hiring staff, 34.5%; postpone expansion plans, 26.9%; and review product/service lines, 23.7%.

The vast majority of family business respondents, 90.8%, bank with one of the major four banks.

Just over a quarter, 26.6%, agree that accessing funding for business activities has been difficult. Approximately half, 45.0%, report that their bank has been supportive during the GFC.