Two thirds of the German hidden champions are family businesses. Their economic importance is often underestimated: In Germany, it is predominantly the large DAX companies that are publicly perceived. An Internet portal is supposed to change that: On www.karriere-familienunternehmen.de Find interested information and job offers from family-run companies that determine Germany’s economy – and provide many jobs: According to a study by the Center for European Economic Research in Mannheim, the 500 largest family businesses increased the number of their employees in Germany by 23 percent from 2007 to 2016 – at the Dax companies that are not family owned, it was only four percent.
Measured against the cost of living there, family businesses in rural areas also pay higher wages than companies that are not controlled by families. The Foundation for Family Businesses lists further advantages: Because family businesses, in contrast to corporations in free float, invest their own money, sustainability and the long-term consequences of their trade play a major role for them, which is why they are better able to survive crises – and thus ensure greater job security.
According to a survey by the Technical University of Munich, young academics in family businesses value not only job security, but also team spirit and a good working atmosphere, flat hierarchies, innovative strength and corporate social responsibility, i.e. corporate social responsibility, which they consider to be more pronounced than in large corporations.
In fact, family businesses are considered “pioneers of business ethics”: They often feel closely connected to their location and support their region with social and cultural projects. A recent survey by the University of Duisburg-Essen showed that more than eight out of ten family businesses can demonstrate philanthropic commitment.