There’s been a lot of talk about how the global crisis has demarcated two very different economic pictures — with developed economies struggling and developing economies surging ahead. True enough, on a more macro basis. But a deeper dive into the data from our Family Business Survey reveals some intriguing differences across countries — and some surprising nuances.
For example, although as might be expected — given the country’s outperformance through the crisis — more than 70% of family firms in Brazil saw demand for their products and services rise in 2010, family firms in mature markets such as Sweden, Canada, Denmark and Finland also bucked the negative trend. And, in tandem with the optimism of Brazil and other dynamic emerging markets, significant majorities (70% and 79%, respectively) of U.S. and German entrepreneurs were planning on expanding their operations this year, buoyed by strong cash reserves.
While the picture is far from rosy in other countries — particularly in Japan, Britain, and much of Europe — and external challenges were paramount in everybody’s mind, there’s one positive factor on which two-thirds of entrepreneurs around the world agree: the special resilience that comes from being a family business.