According to market research, family businesses account for 64% of the American economy, and 35% of the Fortune 500 are family businesses. In the future, family businesses in China will also have higher sales. Successful family businesses are beneficial to the local and global economy, as well as to the development of enterprises and consumers.
So what are the advantages of family businesses that make people trust them?
Stability and development
Family businesses are usually stable and long-lasting because the leaders are usually family members, which leads to the overall stability of the organization.Each generation not only struggles for the enterprise but also for the reputation of the family, generation after generation focus on research and innovation, such as Zhengzhou Hualong Machinery Manufacturing, since 1980, focus on research and development of press,To the later development of servo electric screw press, continuous innovation research and development, the pursuit of technical development.
Commitment and good faith
Family businesses have a greater sense of commitment and responsibility to the family, a level of commitment that is almost impossible to generate in a non-family business.This commitment corresponds to a strong sense of trust in the market and consumers, which will bring incalculable benefits to both companies and consumers.
Flexibility and dedication
In a family business, you don't hear "Sorry, that's not part of my job description".In order to ensure the success of the company, family members are willing to take on multiple roles and take on tasks other than work, which gives consumers more consumption security and has a positive impact on the development of the company.
In the long history, there have been many ups and downs of family businesses, and the survival of the fittest in the market. The surviving family businesses have overcome many difficulties and further consolidated their future development and direction, which in itself brings more trust to the market and consumers and provides more clarity for future development.