Date Added: Sep 2009
Family-owned businesses have been hit by the economic downturn like many others. But while they have suffered along with everyone else, they are able to leverage an inherent competitive advantage to ensure they survive and prosper despite the poor business and financial climate. Some 95 per cent of businesses in Asia, the Middle East, Italy and Spain are family-controlled. So are over 80 eighty per cent of companies in France and Germany, and between 60-70 per cent of those in the US.