Sumary of Largest 500 family businesses prove economic resilience despite pandemic:
- – The largest 500 family businesses generate US$7.28t in revenue, employing 24.1m people across 45 jurisdictions- Family-owned enterprises have opportunity to diversify boards and build legacies- Family businesses look to achieve new ESG goals LONDON, Sept.
- 15, 2021 /PRNewswire/ — Despite the turmoil brought on by the COVID-19 pandemic, family-owned enterprises have managed to stay resilient.
- The world’s largest 500 family businesses generated US$7.28t in revenues, employing 24.1m people across 45 jurisdictions.
- Gallen Family Business Index which reveals how the largest family-owned businesses have responded to the recent turbulence in the global economy.
- EY – Building a better working worldWhile family businesses, especially those in the hospitality and tourism industries, have felt the effects of the COVID-19 pandemic, many took the opportunity to pivot.
- A number of organizations shifted their manufacturing capabilities to create essential items like face shields and ventilators, while others provided financial support to other businesses, displaying their commitment to innovation and an enduring sense of social responsibility.
- Consumer family businesses in particular endured, achieving on average US$15.39b in revenue.
- Overall, family-owned enterprises in the consumer sector remained a significant employer, employing on average 56,150 people.