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.”