Family Business Advisory Services Market

Family Business Advisory Services Market Size and Share Forecast Outlook 2025 to 2035

The global family business advisory services market is projected to increase from USD 9.6 billion in 2025 to USD 16.2 billion by 2035, with a CAGR of 5.4% during the forecast period. The family business advisory services market is expanding due to increased succession planning requirements, increased globalization of family businesses, and favorable government regulations. Companies seek expert advice to align family interests, improve governance structures, and ensure long-term growth across generations in competitive markets.

Quick Stats of Family Business Advisory Services Market

• Family Business Advisory Services Market Size (2025): USD 9.6 billion
• Projected Family Business Advisory Services Market Size (2035): USD 16.2 billion
• Forecast CAGR of Family Business Advisory Services Market (2025 to 2035): 5.4%
• Leading Service Type Segment of Family Business Advisory Services Market: Governance Advisory
• Leading Client Type Segment of Family Business Advisory Services Market: SMEs
• Key Growth Regions of Family Business Advisory Services Market: United Kingdom, Germany, UAE
• Prominent Players in the Family Business Advisory Services Market: Baker Tilly US, LLP, Bessemer Trust, Citrin Cooperman, Deloitte, EY, Grant Thornton LLP, Others.

Metric	Value
Industry Size (2025E)	USD 9.6 billion
Industry Size (2035F)	USD 16.2 billion
CAGR (2025-2035)	5.4%

The global Family Business Advisory Services market is expected to grow from USD 9.6 billion in 2025 to USD 16.2 billion by 2035, at a CAGR of 5.4%.

The market is expected to grow steadily year after year, reaching USD 10.1 billion in 2026, USD 10.6 billion in 2027, USD 11.2 billion in 2028, USD 11.8 billion in 2029, and USD 12.4 billion in 2030, driven by rising demand for governance and succession expertise among multi-generational enterprises. These gains demonstrate the growing recognition that professional advisory services are critical to long-term stability and growth.

Family-owned businesses are the backbone of major economies, especially in the United States. They account for 54% of private sector GDP, generate USD 7.7 trillion in economic value, and employ 59% of the private workforce (about 83.3 million jobs).

With over 32 million family businesses accounting for 87% of all business tax returns, the market's consistent rise to USD 13.1 billion in 2031 and USD 13.8 billion in 2032 reflects their growing reliance on structured advisory support. According to PwC's 2023 report, 66% of US family businesses now have established governance frameworks, and 86% expect to experience revenue growth over the next two years.

Succession issues exacerbate the need for advisory services. Only 30% of American family businesses successfully transition to the second generation, 12% to the third, and 3% to the fourth.

As revenues rise to USD 14.6 billion in 2033, USD 15.4 billion in 2034, and USD 16.2 billion in 2035, businesses are increasingly seeking expert advice to align diverse family interests and ensure strategic continuity. These figures highlight a positive long-term outlook for the global Family Business Advisory Services market.

Key Family Business Advisory Services Market Dynamics

Several key factors are driving the Family Business Advisory Services Market, including the growing need for effective succession planning and governance within multigenerational family businesses, increased globalization and diversification of family-owned businesses, and supportive government initiatives promoting long-term business continuity. These factors encourage families to seek professional advice to ensure long-term growth and smooth generational transitions.

However, the market faces significant constraints, such as the high cost of specialized advisory services, which may discourage smaller businesses. Furthermore, traditional decision-making practices often lead to resistance to external consultants, and the inherent complexity of aligning diverse family interests and business goals complicates the implementation of advisory recommendations, thereby limiting market growth potential.

Rising Need for Succession Planning and Governance in Multi-Generational Family Businesses

Family businesses frequently struggle with leadership transitions across generations, resulting in a high demand for structured succession planning. Advisory services help families develop governance frameworks, define leadership roles, and establish processes for seamless ownership transfer. These strategies help reduce conflict, promote business continuity, and safeguard the brand's reputation. As family businesses grow, professional guidance becomes increasingly important for ensuring long-term success.

Advisors also help create family constitutions, councils, and communication protocols that align with business goals and values. They promote stakeholder harmony by making decision-making more transparent. The growing importance of preserving family legacies and maintaining operational stability is driving the demand for succession planning advisory services.

Increasing Globalization and Diversification of Family-Owned Enterprises

Global expansion and diversification present family businesses with significant regulatory challenges, diverse cultural contexts, and complex supply chains. Advisory services specialize in cross-border compliance, tax strategies, and foreign market entry planning. As family businesses expand into new industries or geographies, external consultants help them manage risk and implement strategic restructuring to ensure success.

Advisors help identify emerging market opportunities, form global partnerships, and implement operational best practices to compete on a global scale. Their insights help families strike a balance between innovation and risk mitigation, thereby boosting competitiveness. This trend of internationalization and diversification significantly increases the need for specialized advisory services to support long-term growth.

Government Initiatives and Supportive Regulations for Family Business Continuity

Governments worldwide recognize the economic importance of family businesses and provide incentives such as tax breaks, succession planning programs, and funding for advisory support. These policies encourage businesses to collaborate with advisory firms to enhance governance and ensure a smooth transition of generational succession.

Furthermore, trade associations and government agencies organize educational workshops, networking events, and knowledge-sharing platforms to raise awareness of best practices. Governments can help reduce the barriers to professional advisory services by creating a supportive environment. This fosters market growth while highlighting the role of family-owned businesses in employment, innovation, and national economic stability.

High Cost of Specialized Advisory Services

Customized consulting services for family businesses frequently require a significant investment of time, expertise, and resources. Smaller or medium-sized businesses may find these costs prohibitive, discouraging them from hiring professionals. High advisory fees can cause delays in governance improvements or succession planning, compromising business continuity.

To cut costs, some companies offer tiered pricing models or group workshops; however, complex, multi-generational businesses often require premium services. Governments occasionally provide financial assistance or subsidies; however, accessibility gaps persist. The perceived high cost continues to limit market penetration among smaller businesses, delaying widespread adoption of advisory services.

Resistance to External Consultants due to Traditional Decision-Making Practices

Many family businesses prefer traditional, informal decision-making within the family unit, which can lead to skepticism about external advisors. Consultants may be perceived as outsiders who disrupt family dynamics or impose unnecessary changes, making it difficult to implement professional governance practices.

Advisors address this by fostering trust, respecting cultural differences, and demonstrating tangible benefits, such as fewer conflicts and longer-term growth. However, the process of building trust requires time and resources, which can impact profitability and slow adoption. Overcoming this resistance is crucial for advisors seeking to expand their market presence and help families implement modern management strategies.

Complexity in Aligning Diverse Family Interests and Business Goals

Family businesses frequently involve multiple generations with opposing priorities, values, and visions for the company's future. Aligning these disparate interests with operational objectives can be difficult, and unresolved conflicts can stymie advisory processes or strategic initiatives.

Advisors address these issues through mediation, family councils, and open communication. However, managing emotional dynamics while pursuing professional goals necessitates sustained engagement and advanced skills. This complexity can lead to longer consulting timelines and higher costs, discouraging businesses from seeking advisory services. It remains a major impediment to growth in the Family Business Advisory Services Market.

Analyzing the Family Business Advisory Services Market by Key Regions

North America is expected to dominate the business advisory services market. This dominance can be attributed to a high concentration of multinational corporations, a stable economy, and a strong emphasis on innovation. This expansion is driven by the region's robust regulatory framework, as well as the increasing demand for strategic planning and risk management services.

The Asia-Pacific region is expected to experience the fastest growth rate during the forecast period. Rapid economic development, increased foreign investment, and a thriving small and medium-sized enterprise (SME) sector are key drivers of the region's business advisory services market.

Europe also holds a significant share of the business advisory services market, thanks to its strict regulatory frameworks and strong emphasis on innovation. The growing demand for compliance and regulatory advisory services, coupled with a heightened emphasis on sustainability and corporate social responsibility, is a significant driver of this expansion. Germany, the United Kingdom, and France are major contributors to the regional market.

Country-Wise Outlook

Country	CAGR (2025-35)
United Kingdom	7.7%
Germany	11.9%
UAE	10.1%

United Kingdom Growing Demand for Family Business Advisory Services

As family-owned businesses continue to play an important role in the UK economy, the market for family business advisory services is rapidly expanding. Many of these companies seek expert advice on succession planning, governance structures, and wealth management to ensure long-term viability. The growing complexity of multigenerational ownership and global expansion strategies has increased the demand for customized advisory solutions.

The UK's dynamic regulatory environment, including tax reforms and inheritance rules, has a significant impact on succession planning and estate structuring. Trends shaping advisory approaches include the use of professional boards, an emphasis on ESG (environmental, social, and governance) practices, and digital transformation.

Opportunities are expanding as younger generations in family businesses seek modernization strategies, digital integration, and diversification into emerging markets. Advisors also advise families on sustainability initiatives to meet the growing expectations of consumers and investors. Insightful collaboration between advisory firms and financial institutions enables businesses to access capital, manage risks, and align family values with strategic growth.

• Rising demand for succession, governance, and wealth planning
• Regulations, ESG focus, and digital transformation drive strategies
• Next-gen pushes modernization, diversification, and sustainability

Germany's Family Business Advisory Services Market Thrives Generational Transitions and Global Expansion

Germany's family business advisory services market is thriving, as family-owned businesses, particularly Mittelstand companies, are the backbone of the country's economy. To maintain a competitive advantage in global markets, these companies seek professional advice on governance, ownership transition, and strategic growth. The demand for expertise has increased as businesses face generational transitions and increasingly complex global supply chains.

Germany's robust manufacturing and export-oriented economy, which puts pressure on family businesses to adopt professional management practices and modern governance models. Digital transformation, Industry 4.0 adoption, and long-term business strategies are all changing the landscape of advisory services. Advisory firms are also focusing on ESG compliance to help businesses align with environmental objectives and stakeholder expectations.

Government initiatives, such as the "Mittelstand-Digital" program, help small and medium-sized enterprises (SMEs) adopt digital solutions and enhance their competitiveness.

Furthermore, the German Family Business Foundation (Stiftung Familienunternehmen) regularly conducts research and provides policy recommendations to safeguard family business interests and advocate for favourable tax policies. Such organizational involvement fortifies the advisory ecosystem and promotes long-term stability.

• Mittelstand firms drive demand for governance, succession, and growth advisory
• Digitalization, Industry 4.0, and ESG trends reshape consulting needs
• Government and foundations support family business stability and tax policies

UAE Advances in Family Business Advisory Services Market with Focus on Leadership Transitions

The UAE's family business advisory services market is rapidly expanding, as family-owned businesses dominate the country's private sector and account for a significant portion of its GDP.

Many of these businesses are transitioning to second- or third-generation leadership, necessitating the need for professional advice on governance, succession planning, and diversification strategies.

The UAE's Vision 2030 economic diversification strategy encourages family businesses to modernise operations, diversify into new industries, and adopt advanced corporate structures. Trends such as digital transformation, sustainable investment, and international expansion are reshaping advisory services as families strive to remain competitive in a rapidly evolving business environment.

The UAE government has implemented supportive regulations, such as the Family Business Law, which ensures continuity by streamlining inheritance and ownership transfer procedures.

Furthermore, initiatives from the Dubai Chamber of Commerce and Industry, such as the Centre for Family Businesses, offer resources, training, and networking opportunities to help strengthen governance practices. These measures demonstrate the government's commitment to supporting family businesses.

• Family firms dominate UAE’s private sector, driving demand for advisory services
• Vision 2030 and Family Business Law support governance, diversification, and succession
• Digitalization, sustainability, and global expansion shape advisory trends

Category-wise Analysis

Governance Advisory to Exhibit Leading Share by Service Type

Governance advisory has emerged as a popular segment in the Family Business Advisory Services Market, owing to the growing demand for structured decision-making frameworks in multi-generational enterprises. As family-owned businesses grow, they face challenges such as leadership succession, ownership structures, and conflict resolution.

Governance advisory services help establish family constitutions, councils, and boards that align family values with business objectives. These frameworks enhance transparency and accountability, leading to long-term stability and smooth operations.

Furthermore, governance advisory services help businesses address succession planning, regulatory compliance, and risk management effectively. These services promote strategic growth by fostering clear communication channels and decision-making processes that reduce stakeholder conflicts. The increasing complexity of globalized operations drives up the demand for governance advisory services in family enterprises.

• Builds transparency and stability in family firms
• Aids succession, compliance, and risk control
• Meets demand from global business complexity

SMEs to Exhibit Leading by Client Type

SMEs account for 36.33% of the Family Business Advisory Services Market, making them the most important segment due to their significant contribution to global economic activity.

To remain competitive, family-owned small and medium-sized businesses frequently seek expert advice on succession planning, governance frameworks, and strategic growth. Their reliance on advisory firms stems from the need to professionalize operations, manage generational shifts, and adapt to changing regulatory landscapes while maintaining family values.

SMEs also benefit from advisory services that assist them with globalization, diversification, and access to capital markets. Advisors help these businesses strengthen decision-making structures, align family interests with business objectives, and implement sustainable practices.

By addressing these complex challenges, family business advisory services help SMEs maintain resilience, drive innovation, and ensure long-term viability in a dynamic and competitive market.

• SMEs drive demand for succession and governance expertise
• Advisory services aid globalization, diversification, and capital access
• Support boosts resilience, innovation, and long-term growth

Competitive Analysis

The business advisory services market is extremely competitive, with numerous players vying for market share. The competitive landscape is marked by the presence of both large multinational corporations and smaller specialized firms, each of which provides a variety of services to meet the diverse needs of businesses.

The market is dominated by a few key players, but there is plenty of room for smaller players to carve out niches and establish themselves as leaders in specific areas of advisory services. The rapid pace of technological advancements exacerbates the competitive environment, necessitating ongoing investment in new technologies and workforce upskilling.

Some of the key players are Baker Tilly US, LLP, Bessemer Trust, Citrin Cooperman, Deloitte, EY, Grant Thornton LLP, Johnston Carmichael, KPMG, Mazars, MCM CPA, Mercer Capital, Moore Global, PwC, RSM US LLP, The Family Business Consulting Group, UHY Hacker Young, and other players.

Deloitte, the world's leading professional services firm, is a major player in the business advisory services market. Deloitte provides a variety of advisory services, including financial advisory, risk management, and strategic advisory. With its extensive global network and deep industry expertise, the company has established a strong market presence.

Ernst & Young (EY) is another major player in the business advisory services sector. EY provides a wide range of services, including transaction advisory, risk management, compliance, and regulatory advisory. The company's strong focus on digital transformation and sustainability has allowed it to remain competitive in a rapidly changing market.

Key Players in the Market

• Baker Tilly US LLP
• Bessemer Trust
• Citrin Cooperman
• Deloitte
• Ernst & Young EY
• Grant Thornton LLP
• Johnston Carmichael
• KPMG, Mazars
• MCM CPA
• Mercer Capital
• Moore Global
• PwC (PricewaterhouseCoopers)
• RSM US LLP
• The Family Business Consulting Group
• UHY Hacker Young

Recent Developments

• In March 2025, LinePoint Partners developed a novel affiliation model. This structure allows UHNW advisors and SFO executives to operate independently while benefiting from institutional-grade infrastructure, investment access, and tax efficiencies. They retain full ownership of their client relationships.
• In January 2025, Russell Reynolds, a global leadership advisory firm, officially launched its Family Enterprise Advisory practice within its leadership solutions. The service focuses on succession planning, leadership development, cultural transformation, governance, and board effectiveness, assisting family businesses in meeting modern challenges while preserving their multigenerational legacies.

Segmentation of Family Business Advisory Services Market

• By Service Type :

  • Governance Advisory
  • Wealth Management
  • Succession Planning
  • Others

• By Client Type :

  • SMEs
  • Large Family Corporations
  • Family Offices (HNW/UHNW)
  • First-Gen Entrepreneurs
  • Others

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa