Family businesses are inherently complex: In addition to dealing with business issues, they must also deal with family and ownership issues – all at once. This complexity confers tremendous strength – families have values and look towards future generations and sustainability, ownership is independent and long-term, and the company can adopt unconventional business models. Because of this, family businesses can, and often do, outperform publicly held corporations. Family-owned companies play a crucial role in the European economy! In addition to the challenges that businesses will have to face in the future, Family-Business Governance and Professional Ownership will become more and more important in owner-managed companies.
Preserving and increasing corporate assets and values for the next generation, developing and maintaining a competitive positioning, and establishing the company as an attractive employer constitute main priorities for family businesses.
One of the most important challenges for family-owned companies is succession – highly complex and sensitive in times where traditional models of succession are undergoing transformation as business and family become more clearly separated. At the same time professionally managed succession processes contribute to the above-average economic success of family businesses.