Family businesses in Spain

Family businesses, the engine of the Spanish economy

Our Family businesses . have always emerged in the Spanish economy, with a large presence in the private productive fabric. They are also actively involved in modernizing management.

These companies have achieved a great international expansion and favor the increase in the strength of the activity and competitiveness. Over the years they have managed to consolidate themselves and have become an essential asset for the Spanish economy.

It is estimated that there are currently 89% of family businesses in the Spanish economy. We can say that these companies are great generators of employment and the real engine of the Spanish economy.

A large number of Spanish family businesses are unlisted and are found especially in the food and beverage sectors. Those with a higher number of assets are devoted to consumer products and retail

What challenges do family businesses face in Spain?

These types of companies are the ones that generate higher amounts of turnover and create more jobs globally, so it is estimated that in the European Union there are approximately 17 million family businesses and these create about 100 million jobs.

La Spanish family company It has a large number of challenges in its day to day, such as:

  • 78,1% of these organizations must face the economic situation.
  • 77,9% are trying to survive in the Spanish market.
  • 73,3% want to increase their size.

A minimum of companies are facing other simpler aspects, such as inheritance, the formation of corporate governance, low rates of professionalization and management of the family dimension.

What is the importance of family businesses in Spain?

Our efamily businesses in Spain They have an essential role in the economy of this country, since they are responsible for creating more than half of employment in the private sector, providing approximately 200% of jobs than non-family businesses.

Originating as a result that this type of company creates a greater amount of employment for each million euros invoiced and effectively transforming itself into the engine of the country's economy and being present in all business sectors.

Actively located in the primary and secondary sectors, so if we talk about the agriculture sector, the manufacturing industry, construction, commerce and hospitality, family businesses have an amount greater than 80%.

How are they usually formed? family businesses in Spain?

The corporate management of these companies is usually found in the owning family, finding the relative with the greatest disposition and criteria to be the successor. In addition, he has professional experience in the company and university education.

At the same time, this type of Spanish company is usually the youngest, with an average of 66 years. There are also companies of this class that are over 100 years old and have great growth and constant updating.

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Author Josep Maria Reichardt | Articles - LinkedIn de Josep Maria Reichardt
Josep Mª Reichardt is an economist and an MBA from ESADE, financial adviser and consultant for the tourism sector. He has been Financial Director at GrupCaixa, managing the portfolios of six Investment Funds.

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