Good situation for family businesses

Good situation for family businesses

The situation of family businesses is assessed as good.

The difficult economic situation caused by the coronavirus pandemic only confirmed that family businesses are better at dealing with various types of crisis than other enterprises. Their actions are characterized by speed and efficiency. Therefore, with the advent of the pandemic, they were able to quickly organize remote work, assign some employees to holidays, reduce employment and investments. According to experts, it is the result of the personal commitment of the employees of these companies, which is an excellent driving force for taking action. However, it cannot be ignored that for some family businesses, the coronavirus pandemic ended their activities. However, it is estimated that this applied to a small percentage of existing companies of this type. Generational succession is considered to be the greatest challenge that will be faced in the near future by more than half of the operating family businesses. The obtained data show that not all 9% want to continue the family business.

Source: https://www.bankier.pl/wiadomosc/Firmy-rodzinne-lepiej-niz-inne-poradzily-sobie-w-pandemicznym-kryzysie-8172955.html

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