Which Countries Mix Business And Family?

Image: Sameer Pawar

Europe
The continent reflects a sense of balance. Countries like the United Kingdom have 75 percent of its businesses run by non-family members, and are more entrepreneurial in spirit. Countries like Germany and France have 50 percent or more of their businesses run by people within the family.

India and the Middle East
Although economic reforms created a wave of first-generation entrepreneurs, they have followed patterns similar to that of older businesses. 73 percent of businesses in India and upwards of 50 percent in the Middle East are run by family members.

China and Russia
Russian entrepreneurs tend to find partners in friends, and China tends to have more women entrepreneurs because communism forced women to be treated equally with men. 66.5 percent of Chinese and 81 percent of Russian businesses are run by non-family members.

Latin America
If you want to find more entrepreneurial billionaires, you should head to Brazil. But if you want to find more family-run businesses, head to Mexico. 55 percent of Mexican businesses are run by family, whereas Brazil has 47 percent of its businesses run by family.

North America
58 percent of businesses in the US are run without family members. It is still the land of dreams as it took Mark Zuckerberg four years to reach a net worth of $1 billion, where others like Henry Ford and John D Rockefeller took 20 years to achieve this figure.

East Asia (Hong Kong & Singapore)
In contrast to its neighbour, China, East Asia reflects a high involvement of family members in businesses. More than 61 percent businesses are run by family members.

Source: Forbes Insights: Global Wealth and Family Ties ‘A Worldwide study of how fortunes are founded, managed, and passed on’