Eight of every 10 family employers trust in their capacity to create new opportunities in the crisis

Manuel Bermejo, a renowned expert in family business and the founder of The Family Advisory Board (TFAB), last week presented the results of a survey of over one hundred family businesses in an online meeting organised by ASCEF with the employers of the associations of Catalonia, the Balearic Islands, Asturias and Navarra. The survey found that 81% are confident of being able to create new opportunities, while 54% said that they had modified their long-term policies in the face of the economic crisis caused by Covid-19.

In addition, 44% of respondents said they are aware of the need to redefine their crisis scenarios, while 38% believe that they should better analyse their map of possible future risks.

With regard to the return to normality, 46% believe that this will take between two and three months, while 29% think that it will take at least six months.

In this context, Mr Bermejo recommends that employers should begin to identify the action that may enable them to emerge stronger from the current crisis. He also encourages them to rethink their corporate strategy for this new normal, evolving their business model and preparing a scenario for the end of 2020.

In Mr Bermejo’s view, family employers should also improve the corporate governance of their companies and strengthen family councils to ensure cohesion when taking difficult decisions, taking care to involve the various generations.

Given the present situation, the founder of TFAB highlights the importance of empowering and caring for the human teams of companies by applying hygienic and health measures, undertaking health policies among workers and empathising with the situation.

In Mr Bermejo’s view, “it is a time for people, values and committed organisations”.