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A study by Credit Suisse shows that sales of family businesses increased 10% annual average since 1995, compared with 7.3% of non-family businesses, placing them as the most profitable companies.
The set list of the 500 largest family businesses achieved net sales of 6.5 billion *. That is, if they constitute a nation will be the third largest economy in the world second only to the US and China. Meanwhile, within the group of the 20 largest family businesses, there are 7 belonging to the United States, 3 Germany, 3 in France and then Italy, Luxembourg, Netherlands, India, Mexico, Brazil and Switzerland with one each.
Family businesses are for-profit organizations whose control is in the hands of a family. This creates a space where strategies as leadership capacity allocation for competitiveness both family and business are outlined.
This is a sample of the great strengths that come with forming a family business. Business growth and family cohesion, long-term thinking ** The face fewer conflicts of interest between owners and managers, are parts of the same. However, a major weakness is the risk aversion that would generate gravity taking unwise decisions. That is why family businesses take early action to assess the market well before the next step. It is commendable that the project to make the dreams of a family have obtained the advice of experts.
Companies like Walmart, Volksvagen, Ford, America Movil, BWM, Peugeot, Iatu Unibanco, Roche and Christian Dior are examples of what you can achieve an entrepreneurial family with a lot of discipline, vision and good decision making.
As we see, the way is clear and full of lessons for best paths lead by the family-company. Everything starts from an idea. Family businesses have a future ahead.
*Center for Family Business at the University of St. Gallen in Switzerland
** In reference to the legacy for future generations seeking to leave the family business