Around two-thirds of Portuguese family businesses are managed by the second and third generations of the family and 20% are even led by the fourth generation. The conclusion is from a study carried out by KPMG with around 2,700 family businesses globally and which surveyed a hundred Portuguese companies. It also states that half of the companies owned by families claim to have multiple generations managing the business, according to a report by ECO.
With an average lifespan of 67 years, which compares to an average age of 42 years for companies globally, only 6% of Portuguese family businesses maintain a 1st generation CEO, shows the study…
