KPMG Australia and Family Business Association (AU) acknowledges the contribution that the Don Kyatt Group of Companies as made to Australia’s Family Business footprint.
More than five decades ago, Frank Hutchinson and Don Kyatt were both working at genuine parts supplier GV Clarks when they decided to take a leap and to go into business for themselves, each investing $300 in 1969 to set up Don Kyatt Spare Parts. Over the past 55 years this business has expanded significantly and now has a large global presence, under its Terrain Tamer brand.
During a recent discussion with Brent Hutchinson (Frank’s son and General Manager at The Don Kyatt Group of Companies), he attributed the sustainability and growth of his family's business to consistent decision-making, commitment to quality of product and embracing their staff with a unified vision of their company’s mission, vision and culture. Everything was and is about customer service and they never said ‘no’ to the customer right from the very beginning, building long term relationships with them. Innovation and knowledge are other key platforms for success. They firmly hold the view that the business grows through their people and have many long term employees. Every employee gets a call from Brent on their birthday, wherever they are in the world.
Brent is passionate about the impact that Australian family businesses have on Australia’s social and economic footprint. During our chat he emphasised the benefits of consistency around human-centred decision-making and long-term customer relationships. Brent also shared his contrasting view around the focus of publicly listed companies which he suggests often prioritises short-term financial results and returns to shareholders. He believes that Australian family owned businesses are well positioned to make decisions that benefit the company and its stakeholders in the long term – they make decisions for generations.
During our discussion, Brent also shared his views around the need for Government policy changes around facilitating the intergenerational transfer of family businesses, mentioning the challenges they face from a financial and structural point of view and the importance of addressing these issues with policymakers.
The Don Kyatt Group are one of many of Australia’s family businesses who are making a significant impact to Australia’s infrastructure, economic resilience and success .
KPMG is a professional services firm with global reach, and deep expertise in audit and assurance, tax and advisory and in the family business sector.
