I was quite shocked when I realized that Family businesses constitute to 70% of the global GDP. While prevalence of FB depends on the countries, it still has a huge impact on the economy of each region. We have looked through many family business crisises and the potential threats the family faces during the transition from passing onto new generations. Especially the innovation and technology factors that the new generation is so keen on incorporating to their businesses. Can you imagine this is the case in three quarters of businesses worldwide?
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Family Business Labs
"The Successor's Paradox"
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ref: All in the family business. (2024, January 9). McKinsey & Company. https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/charts/all-in-the-family-business