Evaluation of available macro-economic data on Family Businesses

DOCUMENT

Summary

In order to map out existing available data on family businesses (FBs), European Family Businesses (EFB) has analysed the data collected from various, publicly available studies on FBs. The goal was to explore the macro-economic significance of FBs across the EU and the UK. The focus was on the following data:

  • the number and share of family businesses,
  • employment,
  • added revenue or value,
  • firm size,
  • regional and sectoral presence,
  • succession and transfer,
  • innovation and investment behaviour and
  • Corporate Social Responsibility/philanthropy and long-term stability.

 

Overall, the strongest (numerical) evidence comes from register- or company-database studies. While survey-based studies provide more depth to succession, investment intentions, innovation, sustainability and social contributions of mainly rural and sector specific FBs.

The studies vary in their methodology, data sources, definitions of family businesses, populations, years- and units of analysis. As a result, some provide a more robust, transparent, and comparable evidence base than others.

As guidance for future studies, this short overview we will briefly summarise the main data points which are more widely analysed. This is followed by illustrating which studies can be used as examples of best practices by detailing their methodology.

Please note that this brief evaluation is intended to provide examples of best practices and does not represent an exhaustive assessment of all countries, studies, or available evidence. The inclusion or exclusion of a particular country or study should not be interpreted as an assessment of its overall performance or quality.

For Belgium, the study The Economic Importance of Family Businesses in Belgium was selected as the main source, as it provides one of the most comprehensive assessments of the role and contribution of family businesses within the Belgian economy. The report is predominantly academic and policy-oriented. It combines statistical analysis with insights into the structure, governance, and economic impact of family firms.

The study employs a large-scale survey methodology, structured around four main sections: general business characteristics, CEO characteristics, management and governance structures, and company ownership. The survey was conducted using the Bel-First database as the sampling frame and was completed directly by company CEOs. A total of 267 family and non-family businesses participated in the survey. To ensure representativeness, the sample was divided by firm size, covered the three Belgian regions (Brussels, Flanders, and Wallonia), and was weighted to reflect the actual business population. The survey was conducted in October 2010 and focused on companies filing annual financial statements. Family businesses were identified using the European Commission definition of a family business.

The study provides detailed information on the economic contribution of family businesses in Belgium. According to its findings, family businesses generate approximately 33% of Belgian GDP, corresponding to an estimated EUR 102 billion. Applying the European Group of Owner Managed and Family Enterprises (GEEF) definition of family business to all Belgian companies with at least one employee, the study estimates that 77% of firms are family businesses, representing approximately 123,000 family firms with employees.

The report also offers valuable insights into the structure of the Belgian family business sector. Family businesses account for 76% of micro-enterprises, 84% of small firms, 68% of medium-sized firms, and 55% of large companies. On average, family firms are smaller than non-family businesses, employing around 10 employees compared to 16 employees in non-family firms.

In terms of employment, family businesses are responsible for 45% of all jobs in Belgium, representing approximately 1.71 million employees. Their contribution varies across regions, accounting for 27% of employment in Brussels, 52% in Flanders, and 58% in Wallonia.

The study also examines generational ownership and succession. It finds that 63% of family businesses are controlled by the first generation, while 27% have been transferred to the second generation and 10% are controlled by at least the third generation. Among the latter, 3% are in the third generation, 6% in the fourth generation, and 1% in the fifth generation.

Finally, the report provides information on internationalisation and regional distribution. Around 33% of family businesses operate internationally, compared to 48% of non-family businesses. Family firms are particularly prevalent in Flanders (78% of all businesses) and Wallonia (81%), while their share is somewhat lower in Brussels (64%). Sectoral family businesses are especially represented in construction (28%), retail (25%), and services (34%).

Overall, the study provides a robust overview of the Belgian family business landscape and remains a valuable source for understanding the economic importance, ownership structures, and employment contribution of family firms in Belgium.

When it comes to the Czech Republic, two complementary studies were selected. The first, Characteristics of Family Businesses in the Czech Republic, provides quantitative evidence on the structure and economic performance of family businesses, while the second, Year 2026 – A Turning Point for Succession in Family Businesses, offers more recent insights into the challenges of generational succession facing Czech family firms.

The study Characteristics of Family Businesses in the Czech Republichas a predominantly academic and statistical focus. It employs a quantitative archival database methodology based on comparative descriptive analysis and secondary-data research. The data was obtained from the Magnus database, maintained by Bisnode, and covers the period 2006–2012. The dataset includes 5,709 family businesses, although only firms with more than 10 employees and annual turnover above CZK 30 million were included. For 2011, the sample comprised 3,553 firms, while for 2012 it included 1,093 firms. The authors note that the 2012 dataset is not fully complete.

Family businesses are identified through an ownership and management criterion based on family names. A company is classified as a family business when multiple individuals sharing the same family name are present among the owners, managers, or members of the executive board. The methodology takes into account the Czech naming convention whereby female surnames typically end in “-ová”.

The study provides evidence of the economic relevance of family businesses among medium-sized and larger Czech firms. In 2011, family businesses generated average sales of CZK 195.9 million, increasing to CZK 248.7 million in 2012. Average net earnings also increased, from CZK 12.6 million in 2011 to CZK 15.3 million in 2012. In terms of employment, the analysed family businesses accounted for approximately 314,861 employees in 2011 and 139,725 employees in 2012 although the lower figure partly reflects the more limited dataset available for that year.

A second valuable source is Year 2026 – A Turning Point for Succession in Family Businesses, a policy-oriented and forward-looking study focused on the future of Czech family firms. Drawing on data from the Association of Small and Medium-Sized Enterprises and Crafts of the Czech Republic (AMSP ČR), the report highlights the broader economic significance of family businesses and the challenges associated with generational transition.

According to AMSP ČR estimates, family businesses account for more than 50% of Czech GDP and employ approximately 50% of all private-sector workers, underlining their importance within the national economy. The report also notes that 56% of family businesses remain under the control of their founders, reflecting the relatively recent development of the Czech private sector following the economic transition of the 1990s.

The study is particularly valuable for its analysis of succession. It argues that 2026 will mark a major turning point, as the first generation of entrepreneurs who established businesses after the fall of communism reaches retirement age. According to the report, without adequate succession planning, only around one-third of family businesses successfully survive a transfer to the next generation. These findings complement the earlier statistical evidence by highlighting one of the most significant challenges facing Czech family businesses in the coming years.

Together, these two studies provide a useful overview of the Czech family business sector, combining quantitative data on firm characteristics and performance with more recent insights into succession and long-term business continuity.

In the case of Finland, the study Anatomy of Family Firms in Finland: Ownership of Privately Held Firms in Finland was selected as the main source, as it provides one of the most comprehensive and up-to-date analyses of the Finnish family business sector. The report has a strongly academic and statistical focus, relying on extensive administrative and ownership data to assess the economic significance and characteristics of family firms.

The study employs a quantitative register-data methodology, classifying firms as family or non-family businesses based on ownership structures. The analysis combines data from several official sources, including Statistics Finland, ownership and dividend data from the Finnish Tax Administration, director and CEO information from the Finnish Patent and Registration Office, and ownership data on large companies from Talouselämä. The sample includes 106,433 active limited liability companies in 2022, covering the period 2006–2022, with a particular focus on the 2022 snapshot. To be included, firms were required to have positive revenue, positive total assets, and at least one employee, while inactive firms and holding-company-type entities were excluded. A company is classified as a family business when a natural person and family members collectively own more than 50% of the firm. For listed companies, the ownership threshold is reduced to 10%, while large privately held firms belonging to the top 1% of companies by revenue are considered family businesses when family ownership reaches at least 20%.

The study defines a family business as a firm in which a natural person and family members collectively own more than 50% of the company. For listed companies, the ownership threshold is reduced to 10%, while large privately held firms belonging to the top 1% of companies by revenue are classified as family businesses when family ownership reaches at least 20%.

Family businesses employed approximately 536,701 people, corresponding to 41.6% of total employment within the sample. They are particularly dominant among smaller firms: among companies with 1–9 employees, family businesses account for a large majority of firms and employment. Although their presence declines among the largest companies, they still represent 21.2% of firms with more than 500 employees.

The report also highlights the fiscal contribution of family businesses. In 2022, family firms paid approximately EUR 1.78 billion in corporate income taxes, representing 30% of all corporate tax revenues generated by the companies analysed. In addition, family business owners contributed around EUR 4.4 billion in personal income taxes, equivalent to 11% of Finland’s total income tax collection.

Another important finding concerns investment behaviour. Family businesses show higher investment intensity than non-family firms, with an investment-to-assets ratio of 5.6% compared to 4.5% for non-family businesses. The study also finds that family firms display slightly greater longevity: among firms operating in 2006, 36.9% of family businesses were still active in 2022, compared with 35.4% of non-family firms. The average age of family businesses is 15.1 years, compared with 13.5 years for non-family businesses.

The report provides valuable insights into ownership continuity and succession. Approximately 39.5% of family businesses involve multiple generations, while 60.5% remain controlled by a single generation, highlighting the importance of intergenerational ownership within the Finnish family business sector.

Finally, the study examines regional and sectoral impacts. Family businesses are particularly important outside the Greater Helsinki area, where their employment share is significantly higher than in the capital region. The strongest concentrations are found in Ahvenanmaa, Päijät-Häme, Keski-Pohjanmaa, Etelä-Pohjanmaa, and Pohjois-Savo. Sectorally, family businesses play a particularly significant role in agriculture, forestry and fishing, construction, accommodation and food services, trade, transport, and other service activities. Although family firms export less overall than non-family businesses (5.4% versus 11.2% of revenue), larger family firms tend to be more internationally active than comparable non-family companies.

This study provides a detailed and evidence-based understanding of family businesses in Finland. Its extensive coverage and robust methodology make it a key reference for assessing the contribution and characteristics of family firms in the Finnish economy.

Several comprehensive studies have mapped and measured the impact of family businesses in France. Based on this body of research, we identified one paper as an example of a best practice. The white paper titled Family Firms in France Macro Impact and Micro Insights by Elodie Andrieu, Farid Toubal and Peio Villanueva at Paris School of Economics and University Paris Dauphine, PSL.

With regards to methodology, this paper combined administrative datasets and information on corporate controls of ultimate beneficial owners to examine the economic impact (employment, value added, turnover, and trade) and performances of both listed and privately held family-owned groups of different sizes (SMEs, ETIs and Large Enterprises) in France in 2021. To form the dataset, various sources were utilised such as: the Orbis database, LIFI as the primary administrative dataset sourced from INSEE to provide information on the ownership of the Ultimate Beneficial Owner (UBO) of firms located in France. The paper’s initial dataset consisted of 208,656 listed and unlisted business groups in 2021 including both foreign-owned and French-owned groups. From this, the authors excluded the foreign-owned groups, leaving 192,010 groups in scope. The authors then chose to exclude groups with fewer than 10 employees due to the limitations in the ownership data for smaller groups. Thus, the final sample of 95,055 business groups of which 0.48% are publicly listed, and 71% are classified as family-owned. Additionally, the authors restricted the sample to business groups with more than 50 employees. The manner in which the scope of the dataset was defined arguably made for a more in-depth macroeconomic data analysis.

Despite mentioning the European Commission’s family Business definition, the paper tailored it further to the available administrative data. The study noted that a family business is one where the majority of decision-making rights are held by the individual(s) who founded the firm, acquired its share capital, or by their spouses, parents, children, or direct heirs and differentiated it for listed (individuals or family members hold at least 25% of decision-making power through their voting rights) and non-listed companies (The business group is considered a family business if the Ultimate Beneficial Owner (UBO) is held at least 50% by individuals (founders or their family members).

The study concluded that family businesses represent 69% of employment in France. This was divided into family businesses of different sizes: 73% of employment of all SMEs; 71% of employment of all ETIs or intermediate-sized enterprises; 64% in Large Enterprises. They found that family firms represent 30% of public firms and 41% of private firms in the sample. Family businesses represent 60% of listed companies and 71% of  non-listed groups. The non-listed family groups account for around 46% of value added and contribute to 55% of employment in France.

Overall, the paper highlights the contributions of family firms in the French economy in terms of employment value added, turnover and trade. It compares the contribution of listed and privately held family firms and demonstrates this by analysing the results by company sizes.

Germany offers several high-quality studies on family businesses, which can broadly be divided into three categories: large-scale quantitative studies based on company registers, mixed-method reports combining official statistics and survey evidence, and survey-based studies focused on specific aspects of family businesses.

The main source selected for this analysis is The Economic Importance of Family- and Female-Led Companies(Die volkswirtschaftliche Bedeutung von Familien- und Frauenunternehmen), published by IfM Bonn. This study has a strong academic and statistical focus and is based on a quantitative analysis of German company register data. It uses information from the Markus database (Bureau van Dijk) and the German Unternehmensregister, drawing on a stratified random sample of 18,071 firms.

The study defines family businesses according to an owner-management criterion: up to two natural persons or their family members must hold at least 50% of voting rights and actively participate in the management of the company.

According to the study, there are approximately 3.213 million family businesses, representing 90.3% of all German companies. Together, they generate around EUR 2.622 trillion in turnover, equivalent to 36.7% of total business turnover, and provide employment for approximately 17.381 million socially insured workers, corresponding to 55.9% of total socially insured employment.

Family businesses are particularly prevalent among smaller firms, accounting for 91.1% of companies with annual turnover below EUR 2 million. Although their share declines as company size increases, they remain present across all size categories and play a particularly important role in sectors such as trade, where they account for 95.1% of firms.

A second valuable source is The Future of Family Businesses in Germany(Die Zukunft der Familienunternehmen). This report combines official statistics, IfM estimates, survey evidence from the IW-Zukunftspanel, DSGV balance-sheet analyses, BDI surveys, and several academic studies. Most of the underlying evidence relates to the period 2003–2007, and the report was published in 2008. Unlike the IfM Bonn study, it adopts a broader definition of family business, requiring only that at least 50% of voting rights are held by an individual, a family, or related families, without requiring family involvement in management.

Many of its findings confirm those of the IfM Bonn study. It estimates that family businesses account for around 3 million firms, representing approximately 95% of all German companies. The slightly higher figure can largely be explained by the broader ownership-based definition employed. The report is particularly useful for its analysis of innovation, internationalisation, and succession. It shows that family firms are generally less export-oriented than non-family businesses, with exports accounting for 8.4% of turnover compared to 16.4% among non-family firms. At the same time, they maintain stronger local economic ties, sourcing 45.5% of their purchases regionally, compared with 37.6% for non-family firms. The study also estimates that more than 70,000 family businesses face succession processes each year, underlining the importance of generational transfer within the German economy.

A third complementary source is Germany as an Investment Location from the Perspective of Family Businesses (Der Investitionsstandort Deutschland aus Unternehmenssicht). This study is based on a company survey conducted in August 2023, using a sample drawn from the Orbis database and the German company register. It includes 1,525 firms, of which 1,228 self-identified as family businesses and 297 as non-family businesses. Family businesses are defined as firms in which one or more related families hold the majority of voting right.

This source adds a forward-looking perspective that is not covered by the previous studies. It shows that 65.9% of family businesses invest exclusively in Germany, while one-third invest both domestically and abroad. However, many firms investing internationally expect to reduce the share of investment allocated to Germany in the future. The main obstacles to investment are identified as bureaucracy and regulation, followed by energy costs, labour costs, skills shortages, and the tax framework. The report also highlights the growing adoption of artificial intelligence, with nearly one in five firms already using AI and increasing investment directed towards AI-related activities.

Taken together, these three studies provide a comprehensive picture of the German family business sector. While the IfM Bonn study offers the most robust assessment of its economic importance, the other two sources complement this perspective by providing valuable insights into innovation, internationalisation, succession, investment behaviour, and future competitiveness challenges.

For Ireland, two complementary studies were selected. The first, A Report on the Irish Family Business Sector: Family Businesses are Here for Good, provides a broad overview of the economic and social importance of family businesses in Ireland. The second, Irish Family Business by Numbers, offers additional statistical evidence based on official census data.

The main source, A Report on the Irish Family Business Sector, has a policy-oriented and advocacy-based character. It was produced by the Family Business Network Ireland (FBN Ireland), the national organisation representing family businesses, and draws together evidence from a range of academic studies, official statistics, and industry reports. The report relies on data from PwC, Dublin City University, University College Cork, the Central Statistics Office (CSO), and other national sources, with most of the evidence referring to the period up to 2020.

The study adopts a definition of family business based on the European Union definition, with one important modification: the requirement that a family owns at least 25% of voting rights is applied to all companies in the sample, rather than only to listed firms.

According to the report, there are approximately 172,931 family businesses in Ireland, representing 64% of all businesses. Family firms are particularly dominant among smaller enterprises, accounting for 77% of micro-enterprises, 62% of SMEs, and 19% of large companies. Among Ireland’s 943 largest firms, approximately 20.1% are family businesses.

The report highlights the substantial contribution of family businesses to the Irish economy. Family firms employ approximately 938,000 people, more than the combined employment provided by the State and foreign-owned businesses. The study also emphasises the importance of indigenous Irish businesses, the majority of which are family-owned, noting that they account for 80% of Ireland’s Net National Product (NNP), compared with 20% generated by foreign multinationals. In addition, indigenous businesses contributed almost EUR 19 billion in tax revenues to the Irish Exchequer in 2018.

Beyond their economic contribution, the report stresses the strong local roots of Irish family businesses. It finds that 53% of family business leaders intend to transfer ownership and/or management to the next generation, while 73% report measuring success differently from non-family firms, placing greater emphasis on long-term commitment to employees, communities, and regional development.

A second valuable source is Irish Family Business by Numbers, which is based primarily on data collected through the 2016 Census and adopts the Central Statistics Office (CSO) definition of family business. The report provides statistical confirmation of many of the findings presented in the FBN Ireland study.

According to this source, Ireland had approximately 160,700 family businesses, again representing 64% of all businesses, a figure very close to that reported by FBN Ireland. More than 90% of family businesses are micro-enterprises employing between one and nine people, highlighting the central role of small family firms within the Irish economy.

The report also provides additional information on sectoral employment. It estimates that 64% of employees working in the service and distribution, construction, industry, and financial sectors are employed by family businesses. Furthermore, 70% of all businesses in the service and distribution sector are family-owned. The study also highlights the importance of family ownership in agriculture, noting that 99.7% of farms in Ireland are family farms.

Taken together, these two studies provide a comprehensive overview of the Irish family business sector. While the FBN Ireland report offers a broader assessment of the economic, fiscal, and social contribution of family businesses, the census-based study reinforces these findings with official statistical evidence and additional sectoral insights.

Italy has a long tradition of research on family businesses, with the AUB Observatory on Italian Family Businesses representing the leading national reference in this field. For the present analysis, several editions of the observatory compiled in Compilation: Bocconi University and AIDAF-EY Researches on Family Businesses produced by the AIDAF-EY Chair in Family Business Strategy in collaboration with AIDAF, UniCredit Group, and Bocconi University, constitute the most comprehensive, up-to-date, and consistent source for studying the evolution of Italian family businesses.

The observatory employs a quantitative methodology based on the longitudinal monitoring of Italian companies with annual revenues exceeding EUR 20 million. Using information on ownership and control structures, companies are classified as family or non-family businesses and subsequently analysed in terms of growth, profitability, employment, corporate governance, and generational succession. The data is updated annually, allowing long-term trends to be identified and comparisons to be made between family and non-family firms. The classification follows a definition broadly aligned with the European Commission’s definition of family businesses.

The population analysed comprises nearly 17.984 Italian companies, of which more than 15.386 are identified as family businesses. In the most recent edition of the observatory, published in 2025, family businesses accounted for 67.2% of the monitored companies, compared with 65% in 2020. This represents an increase of more than 4,200 family businesses over five years, outpacing the growth recorded among non-family firms.

The source provides highly detailed information on the economic contribution of Italian family businesses. Collectively, the companies analysed generate more than EUR 800 billion in turnover and employ approximately 2.3 million workers. Between 2019 and 2023, employment in family businesses grew by 17.9%, while in 2021 they recorded revenue growth rates close to 20%, outperforming non-family firms in most sectors during the post-pandemic recovery.

The observatory also provides advanced indicators of business performance. In 2023, family businesses reported higher profitability levels than non-family firms, with an ROI of 11% compared to 8.7% and an ROE of 14.4% compared to 11.4%. It also highlights that around 8.3% of family businesses have external investors in their ownership structure.

Another key aspect of the source is its analysis of governance and generational succession. The studies show that family-led management models responded better to the COVID-19 crisis than mixed or non-family leadership structures. They also identify an acceleration in succession processes since 2020, estimating that 33.5% of Italian family businesses will undergo a generational transition between 2025 and 2034. Furthermore, the observatory concludes that companies experiencing a generational transition subsequently improve their growth, profitability, productivity, and financial stability. It also analyses the evolution of successor profiles, highlighting higher educational attainment and the fact that 24.3% of successors have prior professional experience outside the family business.

In addition, a complementary study, Family Businesses: The Foundations of the Italian Economy, based on AIDA (Bureau Van Dijk) data, was consulted. AIDA is one of the main sources of financial and corporate information on Italian companies. The study uses a quantitative methodology based on the analysis of financial statements, ownership information, and management structures, covering the period 2013–2021.

This source confirms many of the conclusions reached by the AUB Observatory. By the end of 2021, there were 17,897 Italian companies with revenues exceeding EUR 20 million, of which approximately 12,500 were family-owned, representing 69.8% of the total. The study also shows that small and medium-sized family businesses achieved higher revenue growth than companies with other ownership structures (+38% versus +35%). Furthermore, 57.3% of family businesses belong to the small and medium-sized segment, while 42.7% are large companies. Family businesses account for 74.2% of employment within this group of firms. Finally, the study highlights the strong territorial concentration of family businesses in the provinces of Milan and Rome, which host the largest number of family-owned companies in the country.

When analysing the available data on family businesses in the Netherlands, we identified the national statistics office in the Netherlands, Statistics Netherlands (CBS), Report on Family Businesses in the Netherlands 2015-2018 and a report on The social contribution of family businesses in the Netherlands conducted by SEO Amsterdam Economics as significant sources of information. It is worth noting that the family business data collection effort in the Netherlands began with the support of the European Commission’s COSME Programme. Both reports define family businesses by using the European Commission’s definition from 2009.

The Report on Family Businesses in the Netherlands 2015-2018 provides a greater context for the characteristics of family businesses’ contribution to different aspects of the economy (employment, investment, turnover and value added) and organises this by company size and province.

The report used quantitative data and utilised different sources such as:

  • the Business Demographic Frame (BDK); which it described as an edited version of the General Business Register (ABR);
  • Statistics Netherlands which collects data on operating income and operating costs of Dutch enterprises for the European structural business statistics, tax registrations or sample surveys, insurance policy administration database on wages and social contributions;
  • the Dutch Municipal Population Register (BRP) and;
  • a register of Statistics Netherlands with data on persons who have a relationship with the Netherlands but who are not registered in the BRP and Dutch Tax and Customs Administration.

The report found that there were approximately 273,000 family businesses in the Netherlands as of 1 January 2018, and 86% were micro businesses (employing between two and ten people) and accounted for approximately 29% of all jobs in the Netherlands by December 2018.

They also identified the longevity of Family businesses in comparison to non-family businesses to vary significantly with 44% of the family businesses being between 10 and 30 years old, 18% being 30 years old or older. They also identified that of the family businesses aged 30 years or older, 77% belonged to micro businesses and 18% to small businesses (enterprises with 10 to 50 employed persons).

Another best practice report was The social contribution of family businesses in the Netherlands conducted by SEO Amsterdam Economics and Commissioned by FBNed – FamilieBedrijvenNederland (Family Business Network Netherlands) and Stichting Familie Onderneming (Family Enterprise Foundation) in 2024. While the study also looks at the contribution of family businesses to the Dutch economy, it goes into more depth on the differences between family and non-family businesses alike and measures the long-term contribution by both.

The study on the social contribution of family businesses in the Netherlands used different data sources in comparison to the CBS report mentioned above. Based on qualitative academic literature, interviews with policymakers and experts, a survey among 104 family businesses and company-level administrative data to measure economic effects and contributions. Its methodology includes: data from Statistics Netherlands, Business Demographic Framework (BDK) and Data on businesses linked to the Finance Statistics of Non-Financial Enterprises (NFO), files on turnover (VAT), demographic characteristics (BDK), innovation subsidies (Research and Development Promotion Act) and COVID-19 measures. The report used data from 2017 to 2021. A survey was conducted among 309 members of FBNed FamilieBedrijvenNederland (Family Business Network Netherlands) and the StichtingFamilieOnderneming(Family Enterprise Foundation) which yielded a response rate of 104 companies.

The report identified that 200 out of 500 large companies are family businesses, a third of all jobs can be attributed to family businesses and they create almost 30% of value added. The report also highlighted the difference between family businesses and non-family businesses in terms of their ability to weather economic downturns (recessions) and shocks (e.g. COVID-19). It concluded that in terms of employment, family businesses kept more people employed during the COVID-19 pandemic than non-family businesses. Moreover, it highlighted that family businesses did pay slightly lower wages on average than non-family businesses, but tended to offer better job security.

The approach used in both reports via the use of quantitative and qualitative data analysis helped to develop a more detailed understanding of the macroeconomic contributions of family businesses in the Netherlands. Moreover, the use of the European Commission’s family business definition provides clarity when identifying and tracking the impact family businesses have. This allows nuances to emerge over time.

When it comes to Portugal, the study SMEs and Family SMEs: Specificities from the Portuguese Socio-Business Contextwas selected as the main source. The study has an academic and descriptive character, providing an overview of the role and characteristics of family businesses within the Portuguese economy while placing them in a broader European context.

The study employs a secondary-data and literature-review methodology, drawing on official statistics, previous academic research, and reports from business associations. Its main data sources include Statistics Portugal (Instituto Nacional de Estatística – INE), estimates from the Portuguese Family Business Association, the Associação Empresarial de Portugal (AEP), and publications from the European Commission. The analysis relies primarily on business statistics covering the period 2004–2011, with additional data for 2015. The study adopts the European Commission’s definition of family business.

The report highlights the significant economic importance of family businesses in Portugal. According to the estimates presented, family businesses account for approximately 70–80% of all Portuguese enterprises. Based on official INE data reporting a total of 1,576,606 enterprises, this corresponds to an estimated 1.10 to 1.26 million family businesses.

The study also emphasises the strong connection between family businesses and the Portuguese SME sector. Most family firms are small and medium-sized enterprises, with a particularly high concentration among micro-enterprises. This reflects the broader structure of the Portuguese economy, which is characterised by a predominance of smaller firms.

In terms of economic contribution, family businesses are estimated to generate around two-thirds of Portugal’s GDP and account for approximately 50% of total employment, underlining their central role in national economic activity.

The study also provides insights into business continuity across generations. According to data cited from the AEP (2011), approximately 50% of family businesses do not survive beyond the second generation, while only 20% reach the third generation. These figures highlight succession and generational transfer as key challenges for Portuguese family firms.

For Romania, the study Governance Particularities of Romanian Family Business  was selected as the main source. The study has an academic and exploratory character, combining a review of the existing literature with original empirical research aimed at understanding the characteristics, governance structures, and economic role of Romanian family businesses.

The study employs a nationwide survey methodology targeting Romanian SMEs, complemented by secondary sources used to establish the theoretical background. Data were collected through an online questionnaire consisting of 34 questions, distributed to SMEs across Romania. The survey was conducted between 26 March and 9 April 2014 and obtained responses from 517 SMEs, of which 231 were identified as family businesses according to the study’s criteria. Family businesses are defined as organizations controlled and usually managed by multiple family members.

The study provides valuable insights into the importance of family businesses within the Romanian SME sector. According to the report, Romania had approximately 718,519 SMEs, which together generated more than 58% of total business turnover in the Romanian economy and employed around 2.55 million people, representing approximately two-thirds of the active workforce.

The survey indicates that most family businesses operate at a relatively small scale. Nearly 49% of surveyed family firms reported annual turnover between EUR 100,000 and EUR 500,000, while 18.2% reported revenues exceeding EUR 1 million. The Romanian SME sector is dominated by small and medium-sized enterprises, with a lower presence of micro-enterprises.

The study also highlights the importance of family businesses in innovation-oriented activities. Among surveyed family firms, the research, development, and new technology sector accounted for 18.2% of businesses, making it the second most represented activity after manufacturing.

Another important finding concerns generational involvement. The majority of family businesses remain relatively young, with 64% still controlled by the first generation, while 32% involve both first- and second-generation family members in business operations.

In terms of sectoral distribution, family businesses are most strongly represented in industry and manufacturing (22.9%), followed by research and new technology activities (18.2%) and wholesale and retail trade (15.6%). More broadly, wholesale and retail trade, manufacturing, and services account for approximately 70% of SME value added and employment in Romania.

Although the study is based on a relatively limited survey sample and focuses primarily on SMEs, it provides valuable evidence on the structure, governance, and economic significance of Romanian family businesses, particularly in a context where comprehensive national statistics on family firms remain limited.

With regard to Slovakia, the study Analysis of Innovation Activities of Slovak Small and Medium-Sized Family Businesses was selected as the main source. The study has an academic and empirical focus, combining theoretical research with survey-based evidence to examine the innovation activities and economic performance of Slovak family businesses.

The study employs a four-stage methodology. Firstly, it reviews the existing domestic and international literature on family businesses and innovation. Secondly, it analysis primary data collected through a questionnaire survey focusing on innovation activities among Slovak family businesses. Thirdly, it tests research hypotheses using mathematical and statistical methods, including comparative analysis. Finally, it derives theoretical and practical conclusions through deduction, analogy, and the synthesis of findings. The research combines secondary sources from academic literature with primary data obtained through a questionnaire survey conducted in 2019.

The study adopts the European Commission definition of family business. Out of the 217 survey respondents, 45.2% met the criteria for small and medium-sized family businesses and were included in the final analysis. Among these firms, 67.4% were small businesses employing between 10 and 49 workers with an annual turnover below EUR 10 million, while 32.7% were medium-sized enterprises employing between 50 and 249 workers with an annual turnover below EUR 50 million.

The report primarily focuses on innovation and its impact on business performance. It finds that 76.5% of surveyed family businesses actively implement innovation activities, with product innovations (74.7%) and process innovations (73.3%) being the most common, followed by marketing innovations (60%). The study concludes that innovation has a significant positive effect on business performance, contributing to an average 73.33% increase in turnover, a 28% increase in profit, and a 17.33% increase in exports among the surveyed firms.

The findings also provide insights into the maturity of Slovak family businesses. Although private entrepreneurship has existed in Slovakia for less than three decades, 62.2% of surveyed family businesses have been operating for more than 15 years, indicating a relatively established family business sector.

Generational involvement is another important aspect of the study. Among the surveyed firms, 53.1% remain under first-generation leadership, while 46.9% are already managed by the second generation. No significant involvement of a third generation was identified, reflecting the relatively recent development of family entrepreneurship in Slovakia following the country’s economic transition.

Finally, the study highlights the regional distribution of family businesses across Slovakia. The largest concentration of surveyed firms is located in the Bratislava Region (29.6%), followed by the Trenčín Region (14.3%), Žilina Region (13.3%), and Nitra Region (11.2%), with smaller shares observed in the remaining regions.

Spain has a large number of studies on family businesses; however, for this analysis, the report Relevance and Survival of Family Businesses 2025(Relevancia y Supervivencia de la Empresa Familiar 2025) was selected as it is one of the most recent, comprehensive, and methodologically robust publications on the Spanish family business landscape.

It is an academic and technical report prepared for research and economic analysis purposes, combining the methodological rigor of academic studies with a practical approach aimed at measuring the impact of family businesses on the Spanish economy.

The study employs a quantitative methodology based on the classification of firms as family or non-family businesses using information on ownership structures and corporate governance. The definition used in this study is broadly consistent with the European Commission’s concept of family business regarding ownership and control, but differs in several operational criteria, notably the treatment of dispersed ownership structures, listed firms with individual ownership stakes of 5%, and the classification of subsidiaries.  To do so, the study draws on data from the SABI database (Sistema de Análisis de Balances Ibéricos), financial statements filed with the Spanish Commercial Register, and the Central Business Directory (DIRCE) of the National Statistics Institute (INE), which is used as the basis for extrapolating the results to the entire Spanish business population.

The sample comprises 272,406 Spanish companies, of which 247,743 were classified as family businesses. Data were collected at the beginning of 2024 using financial and accounting information available up to 2022. In addition, the study includes a business survival analysis covering the period 2015–2024.

The report provides highly detailed information on the economic and social relevance of family businesses in Spain. According to its estimates, there are 1,148,031 family businesses in the country, representing 92.4% of all Spanish companies. Since 2015, their number has increased by 66,314 firms, raising their share of the business population from 88.8% to 92.4%.

In economic terms, the more than 272,000 companies analysed generated a combined turnover of EUR 1.2 trillion in 2021. However, average revenues are lower among family businesses (EUR 485,000) than among non-family businesses (EUR 1.265 million). Despite this, family businesses generate more than EUR 560 billion in gross value added (GVA), equivalent to 57.2% of private-sector GVA and 57.8% of total business-sector GVA.

Family businesses also employ nearly 10.2 million people, accounting for 70% of private-sector employment and 70.6% of business-sector employment. In terms of size distribution, 57% are micro-enterprises, 34% are small firms, and around 1% are large companies. Family businesses are present across all size categories, representing 94.5% of micro-enterprises, 87.9% of small firms, 72.4% of medium-sized firms, and 52.8% of large companies.

Another important finding is their greater capacity for survival. The average age of active family businesses is 30 years, compared to 27 years for non-family firms, while their closure rate stands at 8.8%, significantly below the 18.2% recorded by non-family businesses. Finally, the study examines generational succession, showing that approximately one-third of family firms have completed at least one generational transition, while fewer than 2% have successfully undergone two or more succession processes.

Another high-quality source is The Future of the Family Business(El Futuro de la Empresa Familiar). It is  strategic study combining quantitative and qualitative information through surveys, interviews, and financial analysis. Its methodology integrates data from surveys of family businesses affiliated with the Instituto de la Empresa Familiar (IEF), interviews with business owners and experts, annual accounts from the Commercial Register, official statistics from the INE, and McKinsey databases. Unlike the main study, family businesses are not identified through formal ownership or voting-right criteria. Instead, the sample consists of companies belonging to the Instituto de la Empresa Familiar and the territorial family business associations, reflecting a more membership-based approach. The study analyses a sample of 116 leading Spanish family businesses, including 63 survey responses and 23 interviews conducted between June and July 2025.

This source was particularly useful for complementing indicators not covered in the previously mentioned study, such as the annual growth of economic value generated by family businesses (7%, twice the rate of companies listed on the Spanish Continuous Market), employment growth over the last decade (42%), net job creation (3% annually), investment in employee training (32 hours per employee per year compared with the national average of 27 hours), and generational continuity, highlighting that only 5% of family businesses reach the fourth generation.

In the case of the United Kingdom, there are several high quality research studies with clear analysis of the macro-economic impacts of family businesses. For the purposes of this overview, we have identified two. The first is a study published in January 2025 on The State of the Nation: the UK Family Business Sector in 2023 by the Family Business Research Foundation and the Centre for Economics and Business Research (Cebr) highlights the representation of family businesses in the UK economy and the need to recognize and nurture their unique strengths. The second is a report on the Total Tax Contribution of UK Family Businesses by IFB Research Foundation and PWC. In 2023, the IFB Research Foundation officially changed its name to the Family Business Research Foundation (FBRF). The change was formalized by a written resolution on August 23, 2023, and officially took effect on October 17, 2023.

The State of the Nation: the UK Family Business Sector in 2023 report analysed the presence and impact of family businesses in all parts of the UK and across different sectors.  According to the report, in 2023 there were 5,126,505 family businesses in the UK making up 93.2% of all companies in the private sector.

The methodology used includes defining the family businesses as per the Commission’s 2009 definition and assumes all micro businesses without employees are family businesses as the European definition includes sole proprietors and the self-employed. The report focuses only on family businesses in the private sector. It  was informed via the use of national statistics and survey data more specifically, the Longitudinal Small Business Survey (LSBS) (Department for Business and Trade, 2024), which surveyed businesses with 0 to 250 employees from October 2023 to April 2024, the Business Population Estimates (BPE) (Department for Business and Trade, 2024 for information on turnover estimates, employment, and business count in 2023, and the Annual Business Survey (ABS) (Office for National Statistics, 2024) for information on industry Gross Value Added and employee compensation estimates.

The report noted that family businesses generated £2,805 billion in turnover, or almost 50 per cent of the UK private sector total. Total family-owned business gross value added (GVA) was £985 billion, with large firms and businesses inthe wholesale and retail trade sectors again being thelargest contributors. Moreover, in employment they amounted to a total 15.8 million jobs, or 57% of total private sector employment in the UK. This report was particularly informative for information on turnover generated where they added that for every £100 of turnover generated by family businesses, £17.50 was paid in taxes … contributed a total of £422 billion in taxation in 2023. Of this, £142 billion was generated through taxes borne, and £280 billion through taxes collected.

The second report we identified as a best practice with strong data availability was Total Tax Contribution of UK Family Businesses in 2020-2021 by IFB Research Foundation and PwC.

The methodology includes the use of the EU family business definition presented by the European Commission in 2009. The study was based on surveys of 44 family businesses.[1] It includes first generation family businesses, but excludes unregistered businesses and sole traders. The report uses the PwC Total Tax Contribution (TTC) methodology, which looks at all the different taxes that firms pay and administer. The  TTC data was combined with government data to estimate the contribution to the UK public finances; for macro data, the IFB Research Foundation and Oxford Economics study from 2022 is referred to; estimation of the TTC of the whole UK FB sector using publicly available data on turnover for the whole sector alongside the study participants’ data (distinction between taxes borne and taxes collected: Taxes borne are all the taxes levied on a firm, which are its cost and affect its results. They include corporation tax, employers’ national insurance contributions (NIC), irrevocable VAT, and business rates. Taxes borne are a firm’s direct contribution to tax revenues; taxes collected include employees’ income tax and NIC administered through the payroll, and net VAT charged to customers. These are the taxes of employees and customers respectively but are collected from them by firms and paid over to the Government. Taxes collected are generated by a firm’s business activity and are part of its indirect contribution to tax revenues.

Overall, both studies provide insight into the economic impact and presence of family businesses in the UK to varying extents. They both use the European Commission definition of family businesses.