The Global Entrepreneurship Monitor (GEM) recently released its Global Entrepreneurship 2023/24 Global Report: 25 Years and Growing, which reveals the findings of its annual survey of entrepreneurs worldwide. GEM’s nearly 25 years of research represents the longest-running global study on entrepreneurial activity. Around 4 million respondents across 120 countries and approximately 50,000 national experts have contributed to GEM’s comprehensive research. This year’s survey of over 136,000 participants was conducted in 46 economies, which account for 70% of global GDP. Image via ShutterstockEntr ..read more

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Even the most successful multigenerational family firms are often sold by their founding families. The reasons families make the difficult decision to sell their businesses are as varied as the enterprises themselves, ranging from generational changes and financial pressures to increased competition and shifting consumer preferences. Sometimes, conflicts that are characteristic of many close families overshadow and undermine the operation, raising doubts about a prosperous future and a worthy legacy. It might seem out of place, but a family firm’s sale and continued survival can be a favourabl ..read more

Family businesses have a long history of caring for communities and springing into action when there is a threat to the well-being of others. Without question, the spirit of giving is essential when disaster strikes, but so are rapid, critical responses that provide life-saving resources, humanitarian relief, and hope to those affected by natural or artificial catastrophic events. From COVID-related disruptions and the adverse impacts of climate change on the world’s most vulnerable to regional conflicts displacing millions, the need for social assistance has never been higher. Corporate phila ..read more

Mexico City is one of the world’s most populated cities and home to a wealth of family firms. With its industry, infrastructure, and central location in the Americas, Mexico City has emerged as an important setting for businesses wishing to establish themselves or companies looking to expand their operations across the continent. Over 90% of businesses in Mexico are family-owned, and 95% of those are managed by a family member. Mexico’s capital city is also a primary driver of the country’s economy, generating around 16% of the nation’s $1.41 trillion GDP. More of Mexico’s largest family enter ..read more

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As a new year begins, the world continues to face ongoing social issues and environmental concerns. Despite the uncertainties of 2023, family businesses are not just surviving- they’re thriving and making significant impacts in their industries. The largest family enterprises are growing faster than the global economy, generating over $8 trillion in revenue. In the face of disruption, family businesses are trying to make the most of every opportunity by implementing ESG strategies and embracing diversity to become more competitive and future-proof their operations. Here are 8 Quotes from famil ..read more

There are more than 1.4 million family firms operating in Australia, representing 70% of the country’s businesses, and employing 50% of the nation’s workforce. Small businesses and family enterprises account for over 32% of Australia’s economy. Leading accounting and business advisory firm, Grant Thornton Australia, recently released the results of its 2023 Family Business Survey. Over 280 of Australia’s business owners, CEOs, and key decision-makers in the nation’s family business community shared insights about their operations, company structures, and demographics. The Survey also focused o ..read more

by Sophia Scrooge, 8th generation family CEO and chair Like most family businesses that have been operating for nearly 200 years, The Scrooge Group has gone through many transformations. We have become a model example of pivoting to meet the demands of changing market and consumer landscapes, while always staying true to the values of our visionary founder, Ebenezer Scrooge. Securing the financial resources to expand the business in the early years was done mainly through stocks — wooden stocks — the kind that keep people from running away. Ebenezer raised a significant amount of growth capita ..read more

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