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Long-lived family-owned businesses are more resilient, on average, than rivals and that is in part because they have a longer term orientation and are better able to retain the lessons of past crises.
Family-owned businesses are the "social and economic backbone of all communities across the world", including Ireland, according to Dr Justin Craig, inset, Professor of Family Enterprises and Co-Director of the Family Enterprises Centre in the Kellogg School of Management, at Northwestern University, in the US.
He is among the key note speakers at this morning's launch of a report by Fingal Co Council and Dublin City University's Centre for Family Business entitled 'Lessons in Resilience and Success: A Snapshot of Multigenerational Family Businesses'.
The report has examined 12 Fingal-based multi-generational, family-owned businesses - including well known food producers Keelings, Wrights of Howth and Country Crest. It sets out their unique position in the marketplace and makes practical recommendations for their sustained growth.
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