European Family Businesses (EFB) welcomes the intergenerational fairness dialogues and the pledge launched by Glenn Micallef, European Commissioner for Intergenerational Fairness, Youth, Culture and Sport. The initiative encourages local and regional politicians across Europe to commit to building a fairer future for all generations. The discussions taking place during the European Week of Regions and Cities also highlight the importance of combining long-term thinking in policymaking with support for regional economies and opportunities.

Both sets of discussions bring together two core ideas at the heart of the family business model: a long-term perspective that takes future generations into account, and a strong connection to the regions in which family businesses are founded.

Applying long-term future-oriented thinking to policymaking is key. Decisions made today shape the opportunities available to future generations and future businesses, making it essential to consider the lasting impact of policies on family businesses, communities and society.

We are therefore pleased to see the importance of long-term thinking reflected in these discussions. Policies that consider the needs of both present and future generations can help create the conditions for sustainable economic development and continuity.

Family businesses are present in every EU Member State, across regions, cities and sectors. They range from small and medium-sized enterprises (SMEs) to small mid-caps (SMCs) and larger companies, providing goods and services, supporting local competitiveness and creating employment across Europe for generations. While family businesses have global presence they are committed to the regions they were founded in.

Their contribution is not just economic. They help to transfer skills, experience and knowledge to the next generation, preserve expertise, create jobs, support employment preservation in times of crisis and provide philanthropic support to projects in the local communities. Thus, helping to strengthen the long-term resilience of the regions they were founded in and creating value for present and future generations.

Their strong local presence also supports the aims of the European Commission’s Right to Stay Strategy, which seeks to ensure that people have the opportunity to thrive and prosper in the places they call home, without having to leave in search of better opportunities.

We look forward to our upcoming discussion with Commissioner Glenn Micallef where we will further highlight the link between family businesses, intergenerational fairness, long-term perspective and the regional impact of family companies.