At least 90 family businesses in Romania make revenues of over EUR 1 mln

Ninety out of the 400 family business owners who took part in a survey carried out by EY Romania made revenues of over EUR 1 million per year. Almost a third (29%) of the founders have handed over the business to the next generation, whereas 67% are preparing for succession. The local business families also have leaders who are from the third generations, which means that about 32% of the Romanian family businesses are run by successors. Globally, about 53% of the family businesses are run by entrepreneurs who took over the business from the previous generations. Only half of all business families manage to make the succession to the next generation successfully, whereas only 20% hand over the business with success to the third generation. editor@romania-insider.com