Editorial 2020: Family Capital — On the Value of Values

The German SME sector is often referred to as the "backbone of the economy". And rightly so, because family-owned companies in particular, including many hidden champions, shape our business location, which is envied worldwide for this: 90% of German companies are family-owned, they account for just under 60% of employees in the private sector and for more than half of total sales. And depending on the survey, there are up to 1,500 proud global market leaders in the Federal Republic. One of the secrets of success of German family businesses is certainly the strong value system, whose foundation is based on the long term and sustainability. This includes ambition, far-sighted management and forward-looking planning as well as the desire to preserve the life's work for future generations. The focus is not on short-term growth and the pursuit of profit, but on the successful existence of the company for as long as possible. Closely interwoven with this is the often firm rooting in the home region - a sense of tradition, employee well-being and social commitment continue to play an important role even in times of global expansion. In addition, contrary to popular belief, it is family-owned companies that invest particularly heavily in innovation and organize modern working models, because after all, top performers have to live up to their claim of leading market position time and again.