A GLANCE OVER THE SPANISH MIDDLE MARKET (FAMILY OWNED COMPANIES)
Spain is a country in which, companies owned by families represents more than 57% of the total GDP.
Family owned companies employs more than 6.5 million people (67% of the active population), and supports 65% of the total goods exported.
If we filter our approach to this kind of companies taking only those that their level of incomes are from 4 m€ to 60 m€, we find a group of 38000 companies that generates Eur 480.000 millions and an EBITDA of 10%.
If we want to be more selective, we can tune finer our research, choosing only those companies that have an EBITDA higher than 5% ... and this is the outcome:
So, we are in front of a kind of miracle: 19.500 family business with an aggregated turnover of Eur 244.000 millions (half of the first graph), generates the same EBITDA than the first 38.000 companies.
But even everyone in convinced over the importance of the family business, the percentage of companies that survives from the first to the second generation is terrifying: almost 50% will close down their activities ... and in the third generation only 7% of the original companies will be able to survive.
As probably you guess, the main reason for this mortality is the lack of succession in families, and this is a suitable field for entrepreneurs (young or not) who want to start their own business.