Family businesses represent an important part of the French economy. Their financial strength allows them to be more resilient in the face of crises and to be able to project themselves over the long term, but until when? To endure and remain competitive in this COVID period, family and non-family businesses must withstand turbulence: how do they do it? What are their new challenges? What are the challenges for corporate governance over generations? How do entrepreneurial and family cultures coexist in times of crisis?
These are all questions that the National Observatory of Family Entrepreneurship answers in this second report. By comparing recent responses from family business (PE) and non-family business leaders to those of 2019, carried out before the COVID period, the results highlight constants as well as changes that occurred during the crisis. Family businesses have successfully weathered the COVID crisis, keeping their confidence in the future intact compared to 2019. Their resilience has materialized in an even stronger innovation approach than in 2019, in an even more in-depth reflection on CSR, and a certain renewal of their governance practices. However, the results also show that blind spots persist, for both family and non-family businesses.
To learn more about the results of the 2nd edition of the observatory, see the full report.
The replay also gives you an overview of some key figures and lessons from this new study.
