Industry leaders share insights on scaling enterprises to success

The Punjab State Chapter of PHD Chamber Of Commerce and Industry (PHDCCI), in collaboration with Masters’ Union School of Family Business, organised an interactive session on ‘Scaling Your Family Business from 10x to 100x’ here on Friday.

The objective of the session was to equip family-run enterprises with actionable frameworks and leadership insights to achieve sustainable, exponential growth by professionalising operations, modernising governance and fostering a culture of innovation.

Chartered Accountant Jaideep Singh, PHDCCI Convener (Amritsar Zone), welcomed the participants and emphasised PHDCCI’s commitment to fostering entrepreneurship and knowledge-sharing platforms that address the evolving needs of traditional business models in today’s dynamic economic landscape.

In his keynote address, Pratham Mittal, a third generation promoter, Lovely Group and Founder, Master’s Union, emphasised the distinction between “running a business” and “building an institution.” He urged the new generation of entrepreneurs to transition from operational dependency to strategic leadership.

Citing global examples, he shared those businesses that scale successfully often do so by institutionalising processes, building professional management teams and creating learning cultures. He also highlighted how digital transformation, data-driven decision-making and venture-style risk-taking can redefine the trajectory of family businesses.

Proposing the formal vote of thanks, Nipun Aggarwal, PHDCCI Co-Convener (Amritsar Zone), acknowledged the value brought in by the speakers and stressed the need for continuous learning, adaptability and inter-generational dialogue to ensure long-term business resilience.

A ‘fireside chat’ between Sachin Mehra, PHDCCI member, and Rajeev Gupta explored the transformation of traditional family businesses. Gupta emphasised the importance of next-generation leaders driving digitisation through small, high-impact initiatives to overcome resistance. He highlighted Punjab’s entrepreneurial strengths while encouraging businesses to adopt professional governance, build scalable systems, and empower younger members to lead with innovation, agility and strategic thinking.

A memorandum of understanding (MoU) was exchanged between the PHDCCI and Master’s Union, aimed at formalising a collaboration to promote educational initiatives, mentorship opportunities and leadership development for family businesses.

Rajiv Gupta, Founder Reverentia and author of Lala Company, delivered an insightful address on “What Makes or Breaks a Family Business.” Gupta outlined the critical areas where family businesses often falter, such as lack of succession planning, emotional decision-making and resistance to change. Sharing stories from his book Lala Company, he reflected on the pitfalls of informal governance and urged businesses to adopt boardroom discipline and structured decision-making.

Over 120 participants including prominent family-run enterprises and next-generation business leaders from across the region attended the session and benefited from the expert insights and interactive dialogue.