The first International Family Business Summit was held in Quito, where according to experts consulted, the main problem of the Ecuadorian companies is the transition of the company’s founder to a second, third or fourth generation.
Jörg Zehnle, manager of the Chamber of German-Ecuadorian Industries and Commerce, said that in Ecuador 85% of the companies are family businesses, “and therefore these require special attention and training, especially since the transition to the second generation is the most complicated.”
Ramiro Pinto, speaker and manager at Russell Bedfor Ecuador, is palpable the contribution of family businesses in the generation of wealth. He exemplified that for each dollar of income received by a family business, the state receives $ 4.88 in taxes such as VAT, income tax, safeguards, tariffs, 5% in outflow of foreign exchange, municipal tax and contribution to the Superintendency of Companies.
Hence, the Government’s proposal to amend the inheritance tax, withdrawn temporarily from the Assembly, would not help this segment, according to Pinto.
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