The research, conducted by the Credit Suisse Research Institute and Ernst & Young, found that despite the Eurozone crisis and slow economic growth, family businesses are succeeding, while other businesses struggle to create revenue.
Credit Suisse said that over the past five years its Family Business Index had outperformed the market by 8%.
It said that by focusing on long-term investment family businesses were able to outperform public companies.
The research based on a survey of members of the Family Business Network International (FBN-I) gathered from 33 countries, considers various types family businesses including listed and nonlisted, and issues faced by the businesses, such as sustainability and governance.
Credit Suisse said that its research shows that there were six key characteristics that were responsible for the success of family businesses over the last few years.
- Performance and resilience -robust management of the Eurozone credit crisis leading to growth
- A long-term perspective – which incorporates a ‘quality first’ approach
- Sticking together – ensuring that business maintain family-governance
- Sustainability – both financially and socially
Michael O’Sullivan, head of portfolio strategy & thematic research at Credit Suisse Private Banking, said: "The family business model, centered on a longer-term focus, cohesion and awareness of sustainability issues, and an emphasis on the importance of product quality, is not only proving to be a vital engine of economic activity, but also the antidote to some of the structural failings uncovered by the financial crisis."
Source: Private Banker International