Germany's family-run firms have grown consider ably faster in recent years than the large companies listed on the DAX index, according to an analysis published on Monday by the Leibniz Centrefor European Economic Research (ZEW).
Employment at the largest 500 family-run businesse srose 27 per cent over the decade 2007-16 to 2.54 million, the analysis commissioned every two years by the family business foundation found.
The 27 companies on the DAX index of the 30 leading companies listed on the Frankfurt Stock Exchange thatare not family businesses saw their staff complements rise by just 4 per centto 1.55 million.
The medium-sizedcompanies also saw a sharper increase in turn over, with an annual rise on average among the 500 companies of 3.7 per cent, against 3 per cent for the DAX companies.
The Top 500 include the family-run businesses Merck, Beiersdorf and Henkel, whichare also included in the DAX index.
According to the study, more than 90 per cent of private companies in Germany are family run, with 86 per cent being family companies managed by their owners.
"The list of the largest Top 500 family businesses, ranked according to staff complement, is led by the Schwarz Group, followedby Robert Bosch GmbH and Metro," the authors said.
These two lead the turn over listings, followed by the Aldi Group in third place.
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