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The family business generates about 80% of European gross domestic product (GDP) and the family companies give about 60% of employment in the private sector, according to the Secretary General of the European Organization of family businesses Jesus Casado.

“To know exactly how many are family companies, we need official statistics. For the first time seven European countries, started preparing such statistics. We, as an organization representing more than 10,000 companies in more than 40 countries”, said Jesus Casado. “We carry out the project together with the European Commission for the collection of official statistics”, added he.

Family companies, unlike the rest do not seek quick profits and put their focus on the continuation of business for generations. Moreover, family companies have very close ties and relations with the community in which they are positioned. For these are very important customers and suppliers rather than shareholders. Unlike multinational companies who view business as an asset, the family firms have very large social component. The multinational companies open and close offices in different locations depending on profits.

The third element that makes family companies more special is that they are very flexible and adaptable. Their focus is not on the growth and expansion of the company and on its preservation for future generations. This is what Europe needs to overcome this crisis.

According to the experts, there is an urgent need to restore the values that are shared by family firms and create a new kind of capitalism – a more humane capitalism, it has to seek more solidarity, to do business and this will help Europe emerge from the crisis.