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Global Data Points
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Global Data Points

  • Family businesses create an estimated 70% to 90% of global GDP annually.
  • The majority (two-thirds) of family business owners in a Barclays/Economist poll want to ensure a livelihood for their dependents by running the business. (Barclays Wealth and The Economist Intelligence Unit; Barclays Wealth Insights, Volume 8, "Family Business: In Safe Hands?” 2009.)
  • The environment for innovation in family businesses improves when more generations of the owning family are actively involved in the business. ("Entrepreneurial Risk Taking in Family Firms,” Shaker A. Zahra, Family Business Review, March 2005.)
  • Many small and medium-sized family companies have trouble fully participating in global markets, due to the lack of necessary resources, other personal factors and because of political influences. Internationalization becomes more likely when younger family members are involved in managing the company. ("Internationalization Strategy of Small and Medium-Sized Family Businesses: Some Influential Factors,” Zulima Fernández & María J. Nieto, Family Business Review, March 2005.)
  • Family businesses in developing countries are often owned by foreign minorities – known as middleman minorities – and tend to be the dominant force in those economies. ("Minority Family Business in Emerging Markets: Organization Forms and Competitive Advantage,” Michael Carney, Family Business Review, December 2007.)


 North America

Canada: 

  • Around half of the Canadian workforce is employed by a family business, creating nearly 45% of Canadian GDP.
  • About 1/3 of Canadian family entrepreneurs are planning to hand over the company within the near future; 90% of them expect to hand it over to a family member.
  • While many Canadian family firms see themselves as competitive in their current market(s), 84.2% do not want to invest in global expansion. (The PricewaterhouseCoopers Family Business Survey, 2007-08.)

United States: 

  • The greatest part of America’s wealth lies with family-owned businesses. Family firms comprise 80% to 90% of all business enterprises in North America. (J.H. Astrachan and M.C. Shanker, "Family Businesses’ Contribution to the U.S. Economy: A Closer Look,” Family Business Review, September 2003)
  • IFOBs contribute 64% of the GDP or $5,907 billion ($5+ trillion) and employ 62% of the U.S. workforce. (J.H. Astrachan and M.C. Shanker, "Family Businesses’ Contribution to the U.S. Economy: A Closer Look,” Family Business Review, September 2003)
  • More than 30% of all family-owned businesses survive into the second generation. Twelve percent will still be viable into the third generation, with 3% of all family businesses operating at the fourth-generation level and beyond. (Joseph Astrachan, Ph.D., editor, Family Business Review)
  • The leadership of 39% of family-owned businesses will have changed hands in the next five years. (Raymond Institute/MassMutual, American Family Business Survey, 2003)
  • 34% of family firms expect the next CEO to be a woman; 52% of participants hire at least one female family member full time, while 10% employ two female family members of the same status. Of CEOs due to retire within five years aged 61 or older, 55% have not yet chosen their replacement. (Raymond Institute/MassMutual, American Family Business Survey, 2003)
  • 19% of family business participants have not completed any estate planning other than writing a will; only 37% have written a strategic plan; and over 60% are very positive about their company’s future. (Raymond Institute/MassMutual, American Family Business Survey, 2003)
  • 85% of family-owned firms that have identified a successor say it will be a family member. (Raymond Institute/MassMutual, American Family Business Survey, 2003)
  • In a study of S&P 500 firms (Anderson and Reeb, 2003): 
    • 33.6% are family businesses in which the founding family has, on average, 18% of firm equity.
    • Family firm performance is greater and EVA is 5.5% greater ($118.6 million on average) when founding families maintain an ownership stake.
    • Young family firms and old family firms (50-year-old threshold) outperform non-family firms.
    • ROA is greater in family businesses, with a 6.65% greater return than non-family firms.
    • Families own for an average of 78 years.
    • Family firm CEOs earn on average nearly 10% less than their non-family counterparts.
  • The oldest FOB operating in the United States is the Zildjian Cymbal Co. of Norwood, MA founded in 1623 in Constantinople and moved with the family to the United States in 1929. (Family Business Magazine, Spring 2001)
  • Of primary importance among family firm wealth holders is transferring not only their financial wealth but also their values surrounding their wealth to subsequent generations. Primary values taught include encouraging children to earn their own money, philanthropy, charitable giving, and volunteering. (Wealth with Responsibility Study/2000, Bankers Trust Private Banking, Deutsche Bank Group)
  • Over the next five years, almost 90% of family entrepreneurs expect to still control the family firm.
  • Between 10% and 15% of U.S. family firms are now managed by non-family executives.
    (Barclays Wealth and The Economist Intelligence Unit, Barclays Wealth Insights, Volume 8, "Family Business: In Safe Hands?” 2009.)

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Latin America

Brazil:

  • The majority of Brazilian businesses are family owned.
  • In 1999, there were approximately four million registered family-owned businesses in Brazil.
  • Brazil is home to 20 century-old family-owned firms now in their fourth and fifth generations.
  • Family-owned firms represent 70% of the largest Brazilian business groups.
  • Family farming is a key sector of the Brazilian economy.
  • In Brazil, it is estimated that there are roughly 4.1 million family-owned farming enterprises.
  • Brazilian family-owned farming enterprises employ 77% of the rural workforce and comprise 84% of the rural enterprises in the country.
  • Research in Brazil related to family business is carried out in the São Paulo Business School, the Business School São Paulo of International Management, and the Insititut da Empresa Familiar.
    (Facts and figures for above taken in part from the Latin Focus Consensus Forecast.)

Chile: 

  • Family businesses in Chile perform fairly well when it comes to corporate governance, conforming to 65% of the OECD’s Good Practice Standards.
  • Family-controlled businesses on the Chilean stock market outperform their non-family controlled counterparts.
    ("Family Ownership and Firm Performance: Evidence from Public Companies in Chile,” Jon I. Martinez, Bernardo F. Quiroga & Bernhard S. Stöhr, Family Business Review, June 2007.)
  • It is estimated that anywhere from 75% to 90% of all the firms in Chile are family owned and controlled.
  • Roughly 65% of the medium-to-large-size enterprises in Chile are family owned.
  • Chile’s family-owned businesses are typically well-organized corporate entities with decentralized command structures and little day-to-day control by individual shareholders.
  • Family firms in Chile are concentrated in farming, food and beverage, mining, textiles, fishing and fish processing, forestry, and manufacturing industries.
    (Facts and figures for above taken in part from the Latin Focus Consensus Forecast.)

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Europe

Austria:

  • 80% of all Austrian businesses are family controlled, employing between 70% and 75% of all employed Austrians.
  • Issuance of non-voting stock is permitted for family firms only, to enable the option of outside financing without relinquishing management control.
  • The inheritance tax on generational transfer in family businesses was abolished by the central government in 2008.
  • Austrian family businesses require a lower return on equity compared to widely-held firms, which indicates an orientation towards future survival more than short-term performance.
    (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Belgium:

  • About 83% of businesses (with at least 5 employees) in the Flemish speaking part of Belgium are considered a family business in terms of one family possessing majority of ownership and perceiving the business as a family business. ("Real Versus Sample-Based Differences in Comparative Family Business Research,"  Jorissen, A., Laveren, E. Martens, R. and Reheul, A.M. Family Business Review, 2005.)
  • Before 2017, a quarter of Belgian family businesses will transfer leadership but only 43% knows to whom leadership will be transferred (Lambrecht and Naudts, 2007). The preference for a familial successor persists (66%).
  • The leadership landscape of Belgian family businesses will remain male-dominated with 77% of the businesses selecting a male relative as a future (co)-leader and 32% a female relative as future (co)-leader (Arijs, 2009). 
  • Family businesses in components-of-involvement terms suffer from ineffective leadership (less person- and motivation oriented) compared to family businesses in essence terms (Arijs, 2009).
  • Non-family business leaders typically use a more effective transformational leadership style than family businesses in components terms. The difference in leadership style between non-family business leaders and essence family business leaders is less pronounced (Arijs, 2009).
  • One fifth of the Belgian family businesses will face a transfer of ownership within ten years with a 70% preference to keep the business in family hands (Lambrecht, J. and Naudts, W. (2007). Overdracht en overname van kmo’s in België. SVO, EHSAL-K.U.Brussel and FOD Economie KMO Middenstand Energie).
  • The transfer of ownership will be more gender balanced in the near future than the transfer of leadership. Among the family businesses having selected a relative as future owner, 68% selected a male (co)-owner compared to 46% selecting a female (co)-owner (Arijs, 2009).
  • The national Corporate Governance Code makes special recommendations to family-controlled enterprises.
  • Inheritance tax levels have been lowered or abolished in some regions once certain conditions were met.

Croatia:

  • Approximately half of Croatia’s employment is created by family businesses, 77% of which are managed by the owning families without outside involvement. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Czech Republic:

  • 80% to 95% of all businesses operating in the country can be classified as family businesses. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Denmark:

  • Depending on how wide or narrow it is defined, family firms comprise 35% to 95% of all Danish businesses.

Estonia:

  • 90% of all Estonian companies are family-owned, creating about half of the country’s employment.
  • There is no inheritance tax for the generational transfer of family business ownership. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Finland:

  • More than 90% of all Finnish businesses can be categorized as a family business, employing more than 40% of the country’s active workforce. (Finnish Ministry of Trade and Industry, Family Entrepreneurship/Family Enterprises as the Engines of Continuity, Renewal and Growth-Intensiveness, July 2006.)
  • In many family firms, the owner will retire in the next few years. Intra-family succession is planned in 42% of these cases, while 26% will be sold, and another 7% will close (FBN Pilot International Monitor).
  • 18% of all Finnish firms have experienced a successful generational transfer (FBN Pilot International Monitor).

France:

  • 83% of French businesses are categorized as family businesses, employing almost half of French workers (FBN Pilot International Monitor).
  • Almost two-thirds of family companies are managed by a member of the owning family.
  • French family firms are generally less affected than non-family companies during crises due to lower employee wages. Family firm compensation ranges (manager to base employees) are lower, indicating that family managers do not reward themselves on a similar scale to widely-held firms. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Germany:

  • 79% of all German businesses are family-owned, employing almost 45% of the country’s active workforce and creating more than 40% of national turnover.
  • The 50 largest German family businesses outperformed the DAX (German stock index) by an average 6.8% from 2003-2008. ("Die volkswirtschaftliche Bedeutung von Familienunternehmen,” Stiftung Familienunternehmen, 2007.)

Hungary:

  • Approximately 70% of all Hungarian businesses are family controlled, contributing to more than half of the country’s employment. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Iceland:

  • Between 70% and 80% of all Icelandic businesses are counted as family companies, employing about the same percentage of the national workforce and creating 60% to 70% of national turnover. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Ireland:

  • Almost half of all Irish businesses are family companies, providing 39% of all employment and producing nearly 30% of national turnover.
  • 33% of Irish capital acquisitions in the service sector were made by family businesses in 2005. (Central Statistics Office, Government of Ireland, 2008.)

Italy:

  • 73% of all Italian businesses are family-controlled, employing more than half of all employed Italians. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)
  • Italy has the highest number of members in the Hénokiens association (family companies older than 200 years that are still managed and largely owned by the founding family).
  • Dominant shareholders are quite common in Italy. On average, the largest owner holds more than 50% stake, while the next biggest stake amounts to an average of between 8% and 10%. This equity is not held by financial institutions, since those tend to act as lenders, not as shareholders. ("Earnings Management in Family Firms: Evidence from R&D Cost Capitalization in Italy,” Garen Markarian, Lorenzo Pozza, Annalisa Prencipe; Family Business Review, March 2008.)

Latvia:

  • Almost 70% of the post-Communist Latvian economy is comprised of family businesses.
  • Family successors of family businesses are not required to pay inheritance taxes on their companies. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Lithuania:

  • Family businesses have regained their proportion of all Lithuanian businesses - about 38% - in the 20 years since the end of Communism in the country. These firms now contribute nearly 15% of national value.
  • Lithuanian family businesses hedge against the instability of their national market by forming close ties with foreign partners on the demand and supply side. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)
  • Lithuanian family entrepreneurs finance their businesses by approaching family and friends as well as tapping their own resources. Family firms remain the primary source for employment, despite the country’s well-developed market for skilled labor. ("Entrepreneurship and Family Business in a Hostile Environment: The Case of Lithuania,” W. Gibb Dyer & Svetlana Panicheva Mortensen, Family Business Review, September 2005.)

Luxemburg:

  • Family firms comprise 70% of all businesses in Luxemburg.
  • Only about half of Luxemburg’s family enterprises have skill/experience requirements for succeeding family members.
  • Successors in family businesses are taxed at a lower rate than for other inherited property. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Norway:

  • Family businesses constitute about 66% of Norwegian private enterprise, creating around 40% of employment and approximately half of Norwegian national value.
  • In most cases, the oldest son still inherits the family business despite gender equality in inheritance having been a legal concept for 150 years. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)
  • Worker unionization is lower in family firms than in owner-managed companies. ("Flexibility in Norwegian Family-Owned Enterprises,” Trygve Gulbrandsen, Family Business Review, March 2005.)

Poland:

  • 61% of Polish family entrepreneurs have earned a degree in higher education, a figure that is above the average for other business structures in the country.
  • The typical sources of capital in Polish family businesses are family savings (44%) and bank loans (56%).
    (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Portugal:

  • 70% to 80% of all Portuguese businesses are family controlled, accounting for about half of the country’s employment and creating 66% of national turnover.
  • To facilitate generational transfer the Portuguese government has abolished death taxes on family firms but has levied other taxes on non-family transfers. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Romania:

  • Approximately 25% of Romania’s employment is created by family businesses. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Slovakia:

  • 80% to 95% of all Slovak businesses can be classified as family controlled.
  • Most Slovakian family firms have very low leverage, having been founded with only family equity due to the underdeveloped banking system before the late 1990s.
  • There are no inheritance duties and the government does not tax donations of family companies to relatives. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Slovenia:

  • 60% to 80% of all Slovenian businesses are family owned, employing 26% of the active workforce and creating more than 20% of Slovenia’s national value.
  • In about three-quarters of Slovenian family businesses the oldest child is expected to inherit the company, regardless of gender. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Spain:

  • 85% of Spanish businesses are categorized as family-owned, and they contribute 70% of Spain's GDP. 
  • An exception in Spanish legal code allows for non-voting stock to be held in family firms so that they may benefit from outside funds without loss of control.
  • Inheritance taxes for family firms have been limited and in some regions even abolished. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)
  • Spain’s traded companies usually have a dominant shareholder: 65% of the country’s large companies and 100% of medium-sized firms. The combined share of the three largest shareholders amounts to half of the company on average, compared to about one-fifth in the US, Japan and the UK. ("Family Ownership and Pyramids in the Spanish Market,” Silvia Gomez-Anson & Maria Sacristan-Navarro, Family Business Review, September 2007.)

Sweden:

  • Almost 80% of all Swedish businesses can be classified as family owned, employing more than 60% of the active workforce and creating about 30% of national turnover (FBN Pilot International Monitor).
  • More than 90% of Swedish family businesses have a family member as CEO.
  • The government has abolished taxes on inheriting or receiving a family firm as a gift from a relative. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Switzerland:

  • Only 36% of Swiss family firms believe that they hold a competitive position in their market.
  • Of the 30% of Swiss family companies that will be transferred over the next few years, only 22% are expected to remain with the current family; 28% are likely to be sold to private equity investors. (The PricewaterhouseCoopers Family Business Survey, 2007-2008.)

The Netherlands:

  • Slightly less than 33% of the Dutch active workforce is employed by family businesses, which constitute 61% of all Dutch businesses (FBN Pilot International Monitor).
  • The Dutch government has enacted special taxation provisions to facilitate succession in family companies. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

United Kingdom:

  • Almost one-third of UK employees work in family-owned enterprises, which account for 65% of all UK businesses and contribute nearly 41% of GDP. 
  • Around 10% of total UK tax revenue is generated by family businesses.
  • British family firms fare better in gender equality than their nonfamily counterparts: The CEO of a family firm is more likely to be a woman than in nonfamily businesses (Scottish Family Business Association).
  • Of the family firms that face succession over the next 5 years, 44% are expected retain control by the current owner-family. (The PricewaterhouseCoopers Family Business Survey, 2007-2008.)

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Africa

South Africa:

  • Within the next five years, 39% of South African family enterprises will experience a generational transfer; 32% of them expect to pass the business on to the next generation in the family.
  • Compared to the global average of 39%, South African family firms are remarkably less concerned about competition (28%). Concern about strategic issues affecting their company is also lower than the global average (4% compared to 6%). (The PricewaterhouseCoopers Family Business Survey, 2007-2008.)

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Mid-East

Cyprus:

  • 85% to 90% of all businesses in the divided island state are family firms. They create around half of the country’s employment and share of national turnover.
  • 63% of Cypriot family firms expect a qualifying degree in order to assume a leadership position.
  • Family firms can be passed on to the next generation without inheritance duties. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Greece:

  • Families control around 80% of all Greek businesses.
  • Greek family-owned companies tend to offer lower-level career opportunities to non-family employees.
  • The Greek government has lowered inheritance and transfer taxes to facilitate business succession. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

Israel:

  • Among Israel’s large traded firms, those managed by outsiders perform better than family-managed firms in net income creation. ("Family Involvement in Ownership and Management: Exploring Nonlinear Effects on Performance,” Salvatore Sciascia & Pietro Mazzola, Family Business Review, December 2008.)

Middle East/Gulf Countries:

  • Around 75% of the Middle East’s private economy is controlled by 5,000 high-net worth families, with their companies creating 70% of the region’s employment.
  • Family businesses control over 90% of commercial activity (Tharawat Magazine).
  • In the region, it is estimated that family businesses worth more than $1 trillion will be handed down to the next generation within the next five to ten years (Tharawat Magazine).
  • With charity being a requirement of Islam, business families in the Muslim-Arab world have begun to structure their charitable endeavors to improve their support of the poor. (Barclays Wealth & The Economist Intelligence Unit, Barclays Wealth Insights, Volume 8, "Family Business: In Safe Hands?” 2009.)
  • All but about 2% of Gulf companies are family controlled; management styles differ widely among them and depend largely on owner religious affiliation. The array of Islam’s sectarian groups fosters different management styles, from authoritarian to consultative. ("Family Business in the Middle East: An Exploratory Study of Retail Management in Kuwait and Lebanon,” Peter Raven & Dianne H.B. Welsh, Family Business Review, March 2006.)

Turkey:

  • 90% of Turkish businesses constitute family firms.
  • Turkish family companies are generally reluctant to accept any outsider involvement; slightly more than half think that outside consulting is unnecessary. (Overview of Family Business Relevant Issues, 2008 European Commission, Enterprise and Industry Directorate-General.)

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Pacific Rim

Australia:

  • 67% of Australian companies are family businesses (KPMG 2008 Family Business Survey).
  • 90% of Australian family businesses employ less than 200 people and are categorized as "small.” ("Internationalization of Australian Family Businesses: A Managerial Capabilities Perspective,” Jill Thomas, Family Business Review, September 2006.)
  • About one-third of Australian family firms are expected to change CEOs over the next few years, and while 53% are sure that the successor will be a family member, 83% do not have a succession plan.
  • In 60% of Australian family-owned companies, the owning families are directly involved.
  • A 1997 survey indicated that accountants, not lawyers, were the primary source of succession planning advice for family businesses of all generations. However, a 2003 survey showed that 29% of first generation family businesses use accountants for succession planning and 29% use lawyers. (Kosmas Smyrnios, Australian Family and Private Business Survey, 2003.) 

China:

  • Chinese family companies control a proportion of Asia’s economic wealth that is larger than their relative share in population. ("Impact of Family Relationships on Attitudes for the Second Generation in Family Businesses,” Jean Lee, Family Business Review, September 2006.)
  • Confucianism and its morals remain with Chinese business families when they immigrate around the world. Studies indicate these values have a positive influence on business performance and family climate. ("The Effect of Confucian Values on Succession in Family Business,” Ritch L. Sorenson & Jun Yan, Family Business Review, September 2006.)

Indonesia:

  • The 3% of ethnic Chinese in Indonesia own approximately 70% of the country’s businesses, controlling around 80% of the biggest companies in Indonesia. ("Minority Family Business in Emerging Markets: Organization Forms and Competitive Advantage,” Michael Carney, Family Business Review, December 2007.)

Japan:

  • Currently the oldest family business in the world (Houshi Onsen) is operating in Japan and is managed by the 46th generation of the founding family. (Barclays Wealth & The Economist Intelligence Unit, Barclays Wealth Insights, Volume 8, "Family Business: In Safe Hands?” 2009.)
  • The longevity of Japanese family companies may be attributed to the practice of turning sons-in-law into true family insiders, thereby broadening the pool for successors and talented managers without involving non-family members. ("Promoting Family: A Contingency Model of Family Business Succession,” Britta Boyd, Alannah Rafferty, Suzanne Royer & Roland Simons, Family Business Review, March 2008.)
  • Family businesses tend to outperform nonfamily companies in most Japanese industries (21 of 33 commonly used Japanese industry categories). Only in 7 categories were family firms found to perform less successfully. ("The Impact of Family Control on the Performance and Financial Characteristics of Family Versus Nonfamily Businesses in Japan: A Matched-Pair Investigation,” José Allouche, Bruno Amann, Jacques Jaussaud & Toshiki Kurashina, Family Business Review, December 2008.)

Singapore:

  • Family businesses tend to be small and medium-sized, and are well represented among the publicly-traded companies.
  • On average, family firms in Singapore employ only between 10 and 100 people but make up 80% to 90% of industrial companies. ("Impact of Family Relationships on Attitudes for the Second Generation in Family Businesses,” Jean Lee, Family Business Review, September 2006.)

Taiwan:

  • CEO turnover in family companies is lower than in widely-held firms. ("Time Horizon, Costs of Equity Capital, and Generic Investment Strategies of Firms,” Thomas Markus Zellweger, Family Business Review, March 2007.)

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Global Household Names

Many countries around the globe have family business household names. Here’s a snapshot of some of them.

North America

United States

  • Crane & Company
  • Ford Motor Company
  • Hilton
  • L.L. Bean
  • Lowes
  • Marriott Corporation
  • Mars
  • Walmart

Africa

South Africa

  • De Beers

Eastern Mediterranean Basin

Greece

  • Latsis
  • Onassis

Israel

  • Elite Food
  • Strauss Investment
  • Taybeh Brewery (Palestinian)

Middle East/Gulf Countries

  • Nuqul Group
  • Saudi bin Ladin Group
  • YBA Kanoo Shipping

Pacific Rim

Australia

  • Australia Zoo

India

  • Tata Group

Japan

  • Houshi Onsen
  • Toyota

Singapore

  • Hong Fok Corporation
  • Lum Chang Holdings
  • United Overseas Bank

Korea

  • Korean Air

Europe

Austria

  • RedBull
  • Swarovski

Denmark

  • Lego

France

  • Chateau Lafite Rothschild
  • L'oréal

Germany

  • Bertelsmann
  • BMW
  • Henkel
  • Merck
  • Metro
  • Porsche
  • RitterSport
  • Schwan-Stabilo

Iceland

  • Bakkavör Group
  • Baugur Investment

Italy

  • Alessi
  • Barilla
  • Beretta
  • Ferrero
  • FIAT
  • Illy
  • Parmalat

Spain

  • Camper

Sweden

  • H&M
  • IKEA

Switzerland

  • Swatch

The Netherlands

  • Heineken

United Kingdom

  • Sainsburys

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