Observatory AUB on Italian Family Businesses

In 2007, the AIDAF-EY Chair in Strategic Management in Family Business together with AIDAF (Italian Family Firms Association) and UniCredit Group launched the first Observatory on Italian Family Businesses (called AUB Observatory).

The AUB Observatory, focused on Italian family-owned businesses with turnover higher than 20 million euros, is the first initiative in Italy aimed at helping researchers, entrepreneurs, managers and institutions understand the unique characteristics and needs of this particular type of companies. In 2011, the Chamber of Commerce of Milan-MonzaBrianza-Lodi became partner and sponsor of the AUB project, followed in 2015 by Italian Stock Exchange (Borsa Italiana) and in 2017 by Angelini foundation (Fondazione Angelini).

The Observatory is the most complete and extensive recognition available in Italy on family-controlled companies that aims to help researchers, entrepreneurs, managers and institutions to understand the unique characteristics and needs of this particular type of company.

The AUB Observatory monitors about 17 thousand companies with an annual turnover exceeding 20 million euros, and then it focuses in more detail on the over 11 thousand family-owned companies, which have a total turnover of over 800 billion euros and employ about 2.3 million employees.

The results of the tenth edition of the AUB Observatory were presented on November 27th, 2018, at Bocconi University. In this edition, the Observatory presented the comparison between the family businesses of 2007 and the family businesses of 2017, ten years during which many extraordinary events contributed to changing the Italian family capitalism. The results show that family capitalism in the Italian economy has grown both in terms of numbers (companies with turnover of more than 50 million euros in 2017 are higher in number than those in 2007) and incidence on employment and total turnover. The results of profitability and financial strength of family businesses have returned to pre-crisis levels.

In questa rilevazione l’Osservatorio ha presentato il confronto tra le imprese familiari del 2007 e le imprese familiari del 2017, dieci anni durante i quali molti accadimenti straordinari hanno contribuito a modificare il tessuto del capitalismo familiare italiano. I risultati mostrano come il capitalismo familiare nell’economia italiana sia cresciuto sia in termini numerici (le aziende con fatturato superiore ai 50 milioni di euro del 2017 sono superiori numericamente a quelle del 2007) che di incidenza su occupazione e fatturato totale. I risultati di redditività e solidità delle aziende familiari sono tornati ai livelli pre-crisi.

At the same time, it should be noted that around 40% of family businesses in 2017 have changed compared to those in 2007, thus making it clear how necessary it is to continue promoting entrepreneurship (to give birth to new businesses) and to accompany companies in their processes of growth and family cohesion (to increase the likelihood of resilience).

The 10th edition of the Observatory also notes the new survey of the 500 “Benchmark” family companies that have shown economic-financial performances higher than the median of their sector in terms of growth, profitability and indebtedness (names are reported in the appendix in the report).

Since 2011, the AIDAF-EY Chair in Strategic management in family business and UniCredit Group organize regular workshops dedicated to disseminating the results of the AUB Observatory. The people who are typically invited to these events are managers of family-owned businesses and members of family businesses. Since 2011, the AIDAF-EY Chair has also developed some research focus on family firms operating in particular geographical areas and / or in specific industries.

Seventh edition of the AUB Observatory

Eighth edition of the AUB Observatory

Nine edition of the AUB Observatory

Ten edition of the AUB Observatory.

Focus on the fashion industry