Category: Uncategorized

The Catalonian Family Business Association (ASCEF) organized a conference, in collaboration with KPMG, entitled “Managing Resilience in the Family Business“, aimed at covering this family business trait when addressing not only global pandemics, but any kind of risk.

In his welcoming speech, ASCEF President, Amadeu Jori, pointed out that all companies acted “swiftly to protect themselves in the face of the great and sudden drop of activity caused by the pandemic.”. “Family businesses, making agile decisions, have shown their deeply resilient and resistant instinct embedded in its DNA which results from their commitment to sustain the entrepreneurial spirit over different generations“, Jori indicated.

Meanwhile, Manel Blanco, responsible associate for KPMG Family Business in Catalonia, added that “these family businesses also demonstrated a great ability for adaptation in the face of the crisis we have gone through“.

María Jesús Rico, KMPG Governance, Risk Management and Compliance associate, dug into the family business resilience and the key elements for its management, before, during and after the occurrence of a critical event. “Dealing with uncertainty demands immediate answers and rethinking mid to long term strategies and risks“, explained Rico, who underscored that “managing emergent risks with an impact on the business continuity remains a pending issue“.

In this way, in order to prepare for a potential critical event, Rico considers that it is important to start by analyzing our enterprise, working with a map of risks completed with a map of impacts, thus working on contingency approaches for situations of low likelihood, which, nonetheless, might have a great impact, as it is the case of the pandemics. This analysis, along with a work plan and its monitorization, should be already prepared when the unexpected event comes: “This will allow to make decisions in a swift manner with an eye on the future“, Mª Jesús Rico indicated.

The final part of the conference was also attended by Jordi Barri, CEO of Teresa Carles Healthy Foods, who shared her experiences and resilience strategy to address the uncertainty caused by the health crisis in the catering industry. Finally, the Director of the Family Business Department of Universitat de Girona, Pilar Marquès, took part to raise various questions aiming at digging into the company’s case.

• This is an optional resource that is typically considered for succession decisions or in situations of conflict.
• The guide, which includes examples and a regulation model, will be free for all entrepreneur families.

The Catalonian Family Business Association (ASCEF) has developed an instrumental guide for the Family Council seeking to encourage family enterprises to implement this corporate governance instrument which is currently present in only 3 out of 10 family businesses. The Family Council is an optional body for self-management and debate whose main functions include making strategic decisions for the company, acting as connecting element between the family, the board of directors and the company’s management, and also preparing family successions and preventing family conflicts. It should also further the family members’ implication and create emotional ties with the business.

The Family Council Guide, which ASCEF will make available, at no cost, for all family entrepreneurs through its website ascef.com, is a theoretic document that also includes practical cases and a guiding regulation model. This handbook has been prepared by the Family Business departments of the universities Abat Oliba CEU, Universitat de Barcelona, Universitat de Girona, Universitat Internacional de Catalunya and Universitat de Lleida in collaboration with Cuatrecasas law firm.

“As an organization comprised of over 100 companies representative of the Catalonian business fabric, we have considered it necessary to lead an awareness and promotion project on the advantages of counting on a Family Council to develop constructive and long-lasting dynamics in order to contribute to the business project“,  said ASCEF President, Amadeu Jori.

For Jori, “one of the current challenges of family businesses is that they only consider the use of a Family Council when giving way to second or successive generations or when they found themselves in tension-causing situations. This is not an efficient way to act since it inhibits the development of an environment of trust in which to make strategic decisions with transparency and consensus“.

According to data by the Association (*), 39% of family businesses in Catalonia are in the hands of their respective founding entrepreneurs, in 48% of cases, the second generation has a prevailing presence, both regarding ownership and family business management, while third generations are only present in 8% of the companies.  With regard to succession processes, 48% of family businesses acknowledge not having agreed on the way successions would take place.

It is important for ASCEF that entrepreneur families change their non-binding informal communication spaces for Family Council bodies, and that they also regulate their operation, structure and role by clearly outlining its responsibilities, composition, agreement reaching systems and ways of steering them towards business governance bodies.

According to experts, the Family Council should pay special attention to communication, information and the education of its members. The challenge is to maintain a fluent and ongoing communication level, so that points of union among family, ownership and business stay solid, and that the family enterprise strengthens its business following the best standards of good governance and competitiveness.

Family businesses in Catalonia stand for 88% of the total number of enterprises, 76% of private employment and 68% of the economy’s added value. For 74% of family businesses, their family nature constitutes both a positive aspect and a competitive differentiating asset.

* Data from the survey “The Family Business in Catalonia” carried out by ASCEF in 2017 on a sample of more than 200 companies associated and not with the organization.

The Catalonian Association of Family Business (ASCEF) has adhered to the manifesto advocating for the expansion of Josep Tarradellas Barcelona-El Prat Airport; together with over 200 organizations representing the economic sphere and the manufacturing network of Barcelona City and Catalonia in general.

Under the clamor “Yes to the airport’s expansion agreement“, we demand a major institutional accord among the public administrations (Aena, Generalitat de Catalunya, Área Metropolitana de Barcelona and city councils of Barcelona and Baix Llobregat) that involves the European Union authorities in order to approve the Barcelona Airport’s expansion.

The expected expansion consists of a new satellite terminal and a 500-meter expansion of one of the parallel ramps, with an estimated investment of €1.7 billion that would create 83,000 direct jobs and a total of 350,000 new employments, besides spurring the Catalonian GDP in more than two points, 8.9% up from 6.8%.

This expansion will not only allow the region to become a sustainable touristic destination but will also invigorate the economic activity by creating jobs, attracting and retaining talent and international investment.

On Wednesday July 2^nd, the manifesto was read during a joint event at ESADE, attended by ASCEF President, Amadeu Jori, on behalf of the Association. Among the Catalonian organizations subscribing the manifesto are Foment del Treball, PIMEC, Cambra de Comerç de Barcelona, Cercle d’Economia, Círculo Ecuestre, Barcelona Tech City, ESADE, RACC and UFEC.

The manifesto is available through the following ASCEF web link.

• The financial institution will sponsor a new edition of this initiative bringing together family businesses from all over Spain to share their experiences and strategies

The network of Family Business Regional Associations made up of 18 organizations, including the Catalonian Family Business Association (ASCEF) has subscribed an agreement with Credit Suisse by which this financial institution commits to sponsor the organization of a new series of conferences entitled “The Family Business Shares“.

In this way, an initiative born a year ago just after the Covid-19 pandemic was declared will be extended through 2021. This initiative has allowed family business entrepreneurs from all over Spain and a wide variety of industries, to share experiences and strategies to address this situation.

The new edition of “The Family Business Shares” consists of four sessions to be held online between May and November this year.

The associations involved in this project cover all Spanish autonomous communities and include 1,200 companies from all industries representing 10% of the GDP.

Their mission is to advocate for the Spanish family business as driving force for the productive economy and job creation in the region, as well as to further entrepreneurial culture and promote the continuity of this kind of enterprise.

The agreement’s subscription took place today online between Matilde de la Peña Elías and Mr Rafael de Villar Álvarez as proxies for Credit Suisse, and David González Pescador, Director of the Cantabrian Family Business Association (ACEFAM) and representative of the Family Business Association Network during this series.

The Catalonian Family Business Association (ASCEF) organized a conference in collaboration with Deloitte, entitled “Family Legacy vs. Legacy and Business Project“, which offered a more academic vision of the business family, as well as a view of the current situation of the country’s Family Office and its role in the management of companies.

Carles Garcia, professor IESE Business School, dissected the family business and its corporate governance from an academic point of view, pointing out that “if we seek to improve the company’s management and make it efficient, the bigger the companies, the more necessary it is to relied on a greater number of external members than family members“. He, nevertheless, wished to underscore that the family council is to be taken into account.

In this way, professor Garcia asserted that “a greater number of independent consultants contributes to a greater satisfaction of the council performance“. “It is the family who should bring in the company’s values and mission,” he pointed out, after suggesting that “from the third generation on, it is essential to teach these values to the new generations, so they endure over time“.

Throughout the conference professor Carles García reminded the three basic points to be considered by the business family: unity, commitment to business and development: “Without unity, we are only stakeholders, with more than that, we are a family. We cannot appreciate what we don’t know, when it is known, it is appreciated and it feels represented“. “Having valuable and responsible stakeholders is what we are more interested in, they should have a professional attitude at they do“, he commented in relation to the business family presence in the company.

Fernando Vázquez, Law Associate and Head of the Deloitte‘s Family Business Program, delivered the main conclusions about the FOMM Deloitte survey taken by administrators and coordinators of Family Offices in Spain. About these, he noted that most of them are located in Catalonia, where two generation coexists, most of them managing up to €150 million.

“Despite the apparent rise of the Asian market, 90% of investment by the Family Office in Spain is made geographically in North America and Europe“, Vázquez illustrated, who also explained that these investments rally on real estate (44%) and financial assets (32%).

Lastly, Ignasi Botet, consultant for CABOEL, member of ASCEF, explained his professional experience in the family business realm, particularly in their transition to Family Office. Regarding Family Offices’ management and organization, Botet reminded that “although there is not one method that stands out above the rest, all of them take Family Office as a risk diversification strategy, for it is, in fact, a matter of managing the family legacy long term“.

All the information about the lecture is available through the link provided on the web site’s private.

62% of family business managed to increase or retained their personnel during 2020 compared to the previous year. This information was among the data gathered by the Family Business Watch, a body created by the Family Business Institute (IEF) and Deloitte; and was presented at the Annual IEF Conference attended by the President of the Catalonian Family Business Association (ASCEF), Amadeu Jori, on behalf of its associated companies.

Among other data, the Family Business Watch, gathers the pandemics’ impact on the business activity, as well as the balances of the family businesses that constitute the IEF and ASCEF, and the rest of the Territorial Associations of Spain Family Business. Despite the good employment data, the crisis caused by the Covid-19 pandemics had an adverse impact on family business turnover and economic performance.

Namely, the number of family business that registered losses last year tripled in 2020 compared to 2019, up 12% from 4%. In relation to this aspect, 46% of companies did not render profits, while the remaining 42% did. Alternatively, with regard to business turnover, more than half of family businesses (57%) saw it reduced: One out five companies suffered a decline of over 20%. According to the Family Business Watch, 36% managed to increase their turnover; this improvement, however, was mostly below 10%.

In the closing session of the Annual Conference, IEF President, Marc Puig, reaffirmed before the Government Deputy Vice-President and Minister of Economic Affairs, Nadia Calviño, the family business commitment to contribute to the economic recovery by claiming a favorable environment for investment, with clear and predictable rules, and a tax frame that “shall not the be worst of the rest of Europe’s.”

Cybersecurity is one of the major challenges that any business will address today, being increasingly present in any company’s operation. For this reason, and, aiming to learn how to adapt to the new context, the Catalonian Family Business Association (ASCEF) organized a conference at the Equestrian Center of Barcelona, in conjunction with EY Catalunya.

“Information is one of the most valuable assets to any organization, especially in a world where risks do not cease to grow. Therefore, it is essential that companies protect and maintain computing services and information, while addressing the more and more frequent cyberattacks that may jeopardize entire businesses,” expressed during his welcoming address Amadeu Jori, ASCEF‘s president.

Xavier Ferré, associated responsible for cybersecurity at EY Catalunya, started off the session describing the current context and highlighted that “companies’ digitalization and technological evolution, sophistication of the attacks and higher regulation linked to the obligation to safeguard data,” are three reasons why cybersecurity “is here to stay“. This is about an “organized crime, which has become the third illegal world economy” with surgical and targeted attacks.

The COVID-19 pandemics situation we are going through “has favored these attacks“, with security weak points emerging in the context of remote work over domestic network connections.

Ferré underscored that in the event of an cyberattack “time makes the difference, because in the event of complicated situations decisions need to be made rapidly.”  On the other hand, he emphasized the importance of being prepared beforehand and therefore “a set of actions should be taken into account such as identify, safeguard, detect, respond and recover“. “There are many tools and steps that we could develop and follow and that can help us on a daily basis,” he added. In this way, Ferré pointed out the importance of achieving resilience in our companies resilient through the ability to response to contingencies.

Wrapping up the conference, was Ángle Pérez, from CISO Autopistas (Albertis Company), who explained the company’s experience with cybersecurity.

Given the subject and points covered, the conference received a very positive reaction from the audience, being the first attendance session organized by ASCEF after the pandemics broke out.

Internationalizing the company is an important decision in every company. It is an important process involving different variables to be considered and kept in mind. “The first thing to be done is give credibility to the project and, to that end, it should be verbalized making it visible for everybody“, explained Jaume Alsina, CEO of Encofrats Alsina, during his presentation last week as part of the collaboration framework between the Catalonian Family Business Association (ASCEF) and Consell Empresarial d’Osona (CEDO) (Osona’s Business Council).

The lecture was intended for young members of the entrepreneur families from both organizations, ASCEF Forum and CEDO Club Fem Empresa, with the purpose of having Jaume Alsina explain the internationalization process and the process to become a GLO-CAL company, that is a global company with a local mind. Encofrats Alsina, with 33 current operation centers, operates in 17 countries and have completed over 5000 projects with a business turnover of 68% in international operations.  “Internationalization involves a cultural change at the entire company, not only at a single department.”

“When internationalizing the company, we should be patient and know it is a long-term project. We cannot make haste or go into adventure, but neither be lacking, for that would be throwing away the money. We should go little by little, since we cannot replicate the same model we have here“, stated Alsina, who also underscored the importance of “developing synergies with family businesses that had already completed the process“. The CEO of this ASCEF associated company, affirmed that “the philosophy of family business is a point in favor of this strategy, since we know how to wait and identify the maturity point of projects“.

Alsina considers that “each territory calls for different things“. “The way to establish it in each country cannot be standardized; the way to operate should be linked to the culture of each country, and the key is not trying to impose our culture and way of working“, he added.

Jaume Alsina noted that “internationalizing is also knowing when to stop a developed project“. “When a country does not deliver the expected outcomes, you need to know how to close it, and it should be done through certain established and objective parameters. That is why it is also important to design scenarios that help make decisions and take action if needed.”

• The agreement gives special attention the young people taking part in management and administrative areas of family enterprises
• In Catalonia, family businesses represent 88,3% of all private enterprises and 69% of gross value added, creating 76% of jobs of the private sector

Barcelona, April 20th, 2021

The Catalonian Family Business Association (ASCEF) and Consell Empresarial d’Osona (CEDO) (Osona’s Business Council) will work together to promote relationships among the region’s family businesses to help them reach their business goals. The actions to be carried out include the implementation of enabling tools to share experiences and the creation of valuable knowledge. Family business are the main type of business in the Osona region, especially in the food and agriculture industry (meat industry) and the metallurgic and mechanical sector, although tourism is rebounding.

Both organizations are concerned about issues like generation transfer, growth, professionalization, business internationalization, digital transformation and sustainability

This agreement also focuses on furthering entrepreneurial initiative and collaboration between young people from the CEDO’s space “Fem Empresa” (We do enterprise) and young people from the ASCEF Forum, through activities designed as points of encounter and education about topics that affect them.

According to ASCEF‘s President, Amadeu Jori, this agreement represents “a recognition of the region’s important family business fabric, as well as our strong willingness to work with the Consell Empresarial de Osona; especially with young people so as to get family businesses to develop their full capabilities“, he stated. In Catalonia, family businesses represent 88,3% of all private enterprises and provide 69% of gross value added (GVA) and create 76% of jobs in the private sector.

Meanwhile, CEDO‘s President, Lurdes Baulenas, considers that “this alliance is a symbol of the region’s spirit and of our determination to create synergies by furthering networking among companies. Family businesses continue to be one of our region’s entrepreneurial pillars, and it essential for their continuity in Osona and Catalonia to enable tools that make their youngest sectors grow.”

The first activity resulting from this relationship was the lecture about business internationalization delivered last week by Jaume Alsina, entrepreneur and CEO of Encofrats Alsina, an ASCEF associated company.  Alsina, a third-generation family business member who has worked at the company for 20, explained the company’s overseas growth process to become a GLO-CAL (a global company with a local mind).

• Catalonian family businesses represent 88,3% of all private companies, deliver 69% of gross value added (GVA) and create 76% of the private sector employment.
• Alliances among business entities help identify opportunities and guide access to European funds.

Barcelona, April 14th, 2021.

The President of Foment del Treball, Josep Sánchez Llibre, and the President of the Catalonian Family Business Association (ASCEF), Amadeu Jori Armengol, have subscribed a collaboration agreement between these entities to jointly promote the program “Next Generation EU” among Catalonian Family Business. Both presidents are betting on the public-private cooperation among different organizations as an effective tool to facilitate access to European funds.

“We should all work together on the way to economic recovery. The family business has an important reach in Catalonia, therefore a relevant role both in the economic framework and the social environment. In these exceptional times, collaboration and cooperation among institutions and enterprises will be the backbone of economic reconstruction and social transformation“, stated Sánchez Llibre.

Meanwhile, Jori Armengol underscored that “family businesses stand out for their long-term commitment, overt willingness to create value and employment, and their ability to adapt and innovate. This is why we can be an example of how to leverage the funds through committed and future-oriented projects“.

As a result of this agreement, Foment and ASCEF will work to dig into the opportunities that the European funds may provide across the Catalonian family businesses. Another of this alliance’s main goals is to align companies with the contents of the global action plan of Agenda 2030 and make the plan’s SDGs a strategic part of their businesses.

The subscription act was attended by the Director of the Business Section and Responsible for Parliament and Public Administrations of the Catalonian Employer’s Association, Benet Maimi, and its Networking Director, Carme Castellnou. On the ASCEF part, Amadeu Jori was joined by Ignasi Bonet, member of the Family Business’ Institutional Relations Commission.