Latest research in Costa Rica again reinforces the global contribution made by family businesses. In the case of Costa Rica, some 80% of private businesses are family owned, adding to the global voice of the sector.
Family firms are not unique to sectors, can be household names and dispelling the myths, can survive the generations and be a significant size too.
We are delighted to champion the family business sector and more research like this helps to prove the point - family firms are important and make a globally significant contribution too.
Nearly 80 percent of private companies in Costa Rica are family businesses, according to a recent survey by the Costa Rican Chamber of Family Businesses (CACEF). Research found that just over 30,000 companies in Costa Rica are family-controlled and represent all sectors of the economy, from small businesses to major corporations. Research director Guillermo Salazar said results are consistent with data from the International Labor Organization (ILO) showing that family businesses are the backbone of Costa Rica’s economy. Output from family-owned businesses accounts for 69 percent of the gross domestic product and generates 70 percent of the country’s employment, according to the ILO.