When everything goes wrong, the family is always there. That, applied to the economy, it is what analysts and experts presented yesterday at the Second International Family Business Summit in Ecuador, held in the Oro Verde Hotel. And the role of these family businesses (which not always have to be small) in the reconstruction of a deteriorated economy and shaken by an earthquake can be a pillar.
Johannes Ritz, of the Munich Business School, began by recalling the role of the operators in the family business. To improve communication and to avoid confusion regarding the status, it must be clear who is part of the company as the owner, as a family member or as an employee. It is important to improve viability indexes of the family businesses as generations pass, since only 3% of business reach the fourth stage.