Germany’s robust family businesses outshine their US counterparts
German family businesses are much more prevalent and resilient than their US equivalents, according to a study published by the German-based Foundation for Family Businesses (Stiftung Familienunternehmen).
Of the 200 biggest German companies in terms of revenue, more than one-fifth (21%) of them are family companies, compared with just 6.5% of the 200 biggest in the US.
These are just two of the findings of the comparison of the business landscapes of Germany and the US commissioned by the Foundation and prepared by the economic historians’ professor Hartmut Berghoff and Ingo Köhler of the University of Göttingen.
Family offices are gradually building public profiles
Research from US-based public relations group BackBay Communications found family offices are making more effort, albeit slowly, to manage their public profiles.
The research – which, according to Blackbay comprises mostly of looking at single-family offices, but some multi-family offices as well – found that among the top 20 family offices, many have taken steps to better influence their public-facing narrative. For instance, over half, or 55%, have launched a website, while 70% have hired PR professionals, either through third-party agencies or in-house representatives.
Most notably, three quarters now produce content regularly, publishing thought leadership through op-eds, insights pieces on their websites, or producing research-driven white papers.