What can be learned from old family businesses? In the picture: Medicine bottles from the pharmaceutical company Merck from the time when the company was founded more than 350 years ago.
(Photo: AP)
Dusseldorf In this series, the Handelsblatt presents ten of the oldest family businesses in Germany, explaining how they have dealt with wars and crises in the past and what they have learned from them. It starts with an overview of what makes family businesses so resilient that they have been able to survive successfully on the market for hundreds of years. The first company will follow next week: the mountain shoe manufacturer Meindl.
Germany is famous for its family businesses. Nine out of ten German companies are family-controlled, employing almost six out of ten employees. Many German family businesses are world market leaders, both well-known and less well-known.
Their history often goes back a long way: The galvanizing plant The Coatinc Company has been family-owned since it was founded in 1502, making it the oldest family business in Germany. In second place is the Stolberg company Prym, founded in 1530, the world market leader for snap fasteners.
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