Family business: outdated model or cornerstone of a human-centered economy?

Often reduced to clichés such as nepotism or resistance to change, family businesses remain widely misunderstood. Yet they account for around 70% of global GDP and 60% of employment, making them a central pillar of modern economies rather than a marginal model.

In this video, Cécile de Lisle, Executive Director of the Family Business Center at HEC Paris, explains what truly defines a family business and how its structure, combining ownership, governance, and generational continuity, shapes a distinctive approach to value creation. Drawing on the Family Business Center’s HBR publication as well as real-world observations, she shows how these companies contribute to economic stability, social cohesion, and resilience in times of crisis.

This decoding helps move beyond common misconceptions and understand how family businesses can offer concrete answers to today’s economic and societal challenges at a time when one-third of them will need to be transferred within the next decade.