Germany's family-owned businesses are at the forefront of the global economy. According to a ranking published on Wednesday, 119 of the 750 owner-controlled companies in the world with the strongest turnover come from Germany. At 171, only the United States has more of this kind of successful company. The study was produced by PwC, the auditing and consulting firm, in cooperation with the British online platform Family Capital.
In 2017, the German family-owned companies ranked only second to those in the United States in terms of sales, with around 1.3 trillion dollars. On average, the companies employ around 35,000 people, and in total employ around 4.1 million.
Volkswagen (Porsche and Piech families), the Schwarz Group, which owns the Lidl supermarket chain (Schwarz family) and BMW (Quandt and Klatten families) were all in the global Top 10. The family business with the highest sales in the world is the US retailer Walmart, owned by the Walton family, which came ahead of Volkswagen. The Aldi Group, owned by the Albrecht family is ranked 15th.
"Their recipe for success lies in the fact that they are globally successful and locally rooted; that they act in the long term and with foresight and don't focus on short-term growth," explained PwC SME consultant Uwe Rittmann. But the companies needed political support, for example in the expansion of the digital infrastructure, education or the tax system.
The recently published "Global Family Business Index" from the consulting firm EY and the University of St. Gallen came to similar conclusions.
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