Recently, the 2022 Entrepreneur Financial Well-being Index Report (Report) was released online by SAIF and ICBC Private Banking.
The Report interviewed 1,020 entrepreneurs who were private banking clients, with a geographical coverage of 28 provincial administrative regions and subordinate cities. The proportion of male and female interviewees is balanced, and nearly 60% of the interviewees are over 50 years old.
This year’s research sample is more representative.
1. More balanced age distribution: the proportion of interviewees under 40 and over 60 increased;
2. More balanced industry distribution: real estate industry and manufacturing industry accounted for a reduction of more than 5%, respectively;
3. Changing stage of development: mature enterprises decreased by 16%; enterprises in start-up period, contraction period, and transition period increased by 6%, 7%, and 4% respectively.
Combining advanced foreign models with China’s national conditions, the Report builds an original assessment system for the well-being of Chinese entrepreneurs. Based on last year’s model, SAIF and ICBC upgraded and optimized the model in accordance with changes in the industry in order to present the well-being of entrepreneurs more accurately.
The Report shows that the overall 2022 ICBC Entrepreneur Financial Well-being Index scored 76, with a slight increase compared to last year. In terms of each sub-index, “Confidence in Family Business Development” and “Financial Assets Well-Being” perform well, while “Family Business Well-Being” and “Family Governance Well-Being” still have room for improvement. Meanwhile, the Report shows an increase in the concern of entrepreneurs for the “Financial Assets Well-Being” and “Family Governance Well-Being”. It also shows that most entrepreneurs would gradually focus on the balance between the business and the family after a successful venture, especially during the maturity of the business. In addition, they do pay attention to the segregation of family assets from business assets, and family development governance.
In the future, SAIF will continue to monitor the wealth management of entrepreneurs, their family businesses, and their enterprise development. It will provide more research and education support for the wealth management industry.