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Family Businesses perform better: extensive research by Deminor

As financial, legal and corporate governance advisors, we have dealt with many Family Businesses over the course of our 25 years of existence. Today, a large proportion of our clients is actually made up of family-owned companies.

Family Businesses are frequently in the spotlight and many generally accepted allegations about Family Businesses should be confronted with reality. Before carrying out this research, we suspected that Family Businesses could outperform non-Family Businesses. However, we did not realise the magnitude of the outperformance, which we have now quantified: 7% yearly on average over the past 15 years. Listed Family Businesses in Belgium proved to be more resilient, less indebted, perform better and more profitable than other listed businesses. We intentionally took a long time span, ranging from 1st January 2003 to 31st December 2017, to smooth out the conjunctural effects.

The findings of our study is in line with a study by Credit Suisse about 1000 Family Businesses worldwide. We, however, focused solely on Belgium and are thus confirming a broader trend, where Family Businesses outperform Non-Family Businesses in many ways.
The results of this study are available here:


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