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The study also notes that the pace of growth has slowed and predicts that the slowdown will be more evident in 2019

Family businesses have improved their results this year, although at a lower rate than in previous years.

This is one of the main conclusions established by the barometer developed by the Mare Nostrum Family Business Chair of the University of Murcia and the Polytechnic University of Cartagena and the Murcian Family Business Association (AMEFMUR), which measures the main variables that determine the activity of a collective that represents more than 92% of the business fabric.

Especially positive were the data on employment and investment, which reached the maximum values ​​of the series, which began in 2008. Specifically, 42.5% of companies have increased their workforce, while 39.2% has increased its investments.

These data have been made public by José Luján and Alejandro Díaz, rectors of the University of Murcia and the Polytechnic University of Cartagena, Javier Celdrán, Minister of Employment, Business and Environment, Carlos Egea, President of the Cajamurcia Foundation, José María Tortosa , president of AMEFMUR, and Ángel Meroño, study coordinator and director of the Mare Nostrum Family Business Chair.

The study also notes that the growth rate is lower than the previous year and foresees that this deceleration will be more evident in 2019, especially in the national context.

Therefore, although the turnover shows a positive balance and half of the companies increased their sales, the Confidence Index decreases slightly.

Compete through quality

Going into detail about business activity, the barometer indicates that, when it comes to competing, family businesses are mainly focused on offering the best service based on quality and customer service.

Second, they are focused on efficiency, although in 2018 there is a decrease.

Third, there is diversification, with a growing orientation based on new markets and sectors.

Another conclusion is that business goals are still more important than family goals.

Among them, business reputation ranks first and survival second.

In terms of corporate governance, companies that plan to transmit the company to the next generation in the face of economic uncertainty are down by 8 points.

Competitive pressure, the main limiting factor

Competitive pressure (55%) is confirmed as the main limiting factor during 2018. With an increase of 15 points, the shortage of qualified personnel (31%) begins to be a problem for family businesses.

As for the issues that most concern for next year, the first three of an external nature show an important growth: the first place is occupied by political stability, followed by economic stability and, thirdly, the role of the State.

The main internal variable of the business model is the expansion of markets, followed by the improvement of the dimension and internal organization.

The image of the family business

In this barometer, the image of the family business has been specifically analyzed.

The results confirm that, from a greater identification as a family business, a greater communication effort is made, while the associated benefits are greater.

90% of companies are considered fairly or completely a family business.

However, only 64% think that it is perceived in the same way.

This gap, indicates the study, is explained because 23% of companies do nothing or little to make known their family character, either because they do not see it important, or because they do not know how to do it.

Among the companies that try to communicate their family character, mainly their values, internally they do so through interaction and closeness with employees and meetings.

Externally through its commercial relations, the web and the rest of corporate information.

The companies that grant an advantage to be perceived as a family business (51%) clearly outperform those who believe it is a disadvantage (23%).

The main advantages are commitment, closeness, trust and continuity.

The most notable disadvantages are the small size, the prejudices due to lack of professionalism and internal conflicts.

Regarding the question about ways to improve the identification of family businesses, 19% of responses suggest a seal or badge where family character is recognized.

They even propose that it be a public body that grants it and that it could be included in its legal form.

Source: Universidad de Murcia