Despite the seeming constant challenge to put the family firm under the spotlight for the right reasons, there is often criticism pointed int heir direction.
However, family firms are household names, global players, significant employers and major contributors to the global economy.
This piece identifies some of the things others can learn from them, not least their stewardship for future generations and long term view, their cautious approach to debt and borrowing and their adept skill at capitalising on their culture.
At FBU, we champion the sector and celebrate all that is great about the family business sector and recognise the important role these firms have to play, on a local, regional and global scale.
Western business has long criticised the family-run firm. From succession disputes to their reliance on dual-class shares and pyramid structures to clip the wings of external investors, they’re not often held up as models of corporate achievement. But research by Boston Consulting Group (BCG) has found that 40 per cent of French and German companies with annual revenues exceeding $1bn are family-owned, as are 90 per cent of businesses worldwide. So what can we learn from them?