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Valencian family businesses face challenges in professionalization and growth

Ivie and Cajamar researchers highlight the importance of these businesses for GDP and employment, but point to the need for improved management and talent retention.

Generic image of a conference about family business.
IA

Generic image of a conference about family business.

Family businesses, representing 87.4% of the Valencian business fabric, contribute 78% of GDP and 78.4% of employment, but face challenges such as professionalization and talent management.

Family businesses are a fundamental pillar for the economy of the Valencian Community, generating a significant portion of wealth and employment. However, these businesses face important challenges, including the need to professionalize their management, improve talent attraction and retention, and increase their average size.
This was explained by Alejandro Escribá, a researcher at Ivie and director of the Chair of Family Business at the Universitat de València, during the conference 'Reality and challenges of the Valencian family business', organized by Cajamar and Ivie in València. The event was inaugurated by the territorial director of Cajamar in València, Jesús García, and the deputy director of Research at Ivie, Joaquín Maudos.
Escribá highlighted the weight of these companies, which contribute 78% of GDP and 78.4% of regional employment. He emphasized the heterogeneity within the sector, focusing on the most professionalized businesses. He underscored the importance of promoting good corporate governance, based on professional criteria, transparency, and accountability, complemented by family governance that includes family councils and protocols to facilitate dialogue and generational continuity.
Another key challenge is increasing the size of companies. Valencian family businesses are, on average, smaller than non-family ones; 94.45% of micro-enterprises are family-owned, while they only represent half of large companies.
The difficulty in attracting and retaining talent is a third highlighted challenge. Despite offering close-knit environments and a culture of commitment, family businesses face obstacles in competing on salaries, career plans, and human resource management professionalization. Escribá pointed to the need to implement more advanced talent management systems and less personalized structures.
Finally, Escribá emphasized the role of public administrations in strengthening the competitiveness of these businesses, calling for greater institutional recognition and policies that favor professionalization, growth, and productivity, as well as regulatory and fiscal frameworks that facilitate generational continuity.

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