Family-owned Businesses - A Human Story: Part 1
Part 1 - LIFECYCLE
Family-owned businesses (FOB’s) play a leading role on the global economic stage. Today they account for over 70% of GDP, with an annual turnover of $60-$70 trillion. They are responsible for about 60% of employment, supporting education, healthcare, and infrastructure. With an ability to out-ride turbulence, FOBs in general outperform other equivalents.1
At one point in their lifecycle the distinction between FOBs and other large businesses fades. But some unique factors linger. Above all, this is a human story. For our examination Amrop draws on the input of its senior Partners around the world, based on long track records of working with FOBs and trusted relationships with founders and successors.
This series provides first-hand observations of the core challenges, pitfalls and strengths of FOBs, with insights and recommendations for firms and incoming executives. We’ll see that whilst every case is unique, certain traits and experiences are shared by many. We’ll learn how key factors play out in the leadership domain.
