This is piece from 2015 that resonates well with where family businesses are today and we strongly believe that they will retain their importance for the foreseeable future.
Family businesses take the long term view and as such are well suited to weathering ups and downs, and many have survived for generations too and continue to do so, even as societies evolve and become more complex.
A great insight!
Families have always been at the heart of business. Family companies are among the world’s oldest. The Hoshi Ryokan, an inn in Japan, has been in the same family since 718. Kongo Gumi, a Japanese family construction firm, was founded even earlier, in 578, but went bust in 2006. The Antinori family has been producing wine in Tuscany since 1385 and the Berettas have been making guns since 1526. Family companies played a starring role in the development of capitalism: think of the Barings or the Rothschilds in banking or the Fords and Benzes in carmaking.