Almost 30% of the Romanian businesses with revenues of over EUR 1 million are led by the founders’ children whereas 67% continue to be managed by the initial founders, according to the EY study “Barometer of the family businesses in Romania.”

The survey also shows that two-thirds of the businesses are led by leaders from the second or third generation. By comparison, at global level over 53% of the family businesses are led by entrepreneurs who took over the business from previous generations.

Only 30% of the Romanian family businesses survive after the first generation, 13% after the second generation, and only 3% after the third generation of the family.

editor@romania-insider.com