Family companies grow in times of crisis

Family companies grow in times of crisis

Nearly half of the companies in Bulgaria are founded on these terms, shows the date of the National Statistical Institute. In times of crisis, the family business in Bulgaria is growing and for 2010 it numbered 156,000 companies or 42% of all companies on Bulgarian market.

Most common are the cases of family business in the sectors of trade and services respectively 43,6% ¨ 37,9%. The trust among relatives is decisive especially when it comes to surviving in times of crisis, experts comment. Out of the overall turnover of the companies in Bulgaria for 2010, the family companies made nearly 20% or 38 bullion levs. The Association of Family Business in Bulgaria expect that in the coming years this share will grow. This is also the trend in the rest of EU member states where family companies hold about 74% of all active companies. (Standart News)

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