In late November, the owners of one of the biggest family companies in the world, including Bonnier Group, Lombard Odier, IMD Group, will arrive in Bulgaria. The reason for their visit to Bulgaria is the forthcoming meeting in Sofia of the Board of Directors of the Family Business Network (FBN) International, whose members include 3,200 different companies from over 50 countries. This was announced by the Chairman of the Bulgarian Association of Family Business (FBN - Bulgaria), Hristo Iliev at the second official meeting dubbed "The Next generation" held this weekend in Sozopol.
Henkel, Pirelli Group, Benetton, Oriflame, Merck, Ermenegildo Zegna, Fiat Group are only a part of the largest family companies which are members of FBN International. Among the guests of honour at the meeting was Thierry Lombard, Chairman of the Managing Board of one of the oldest private banks in the world - Swiss Lombard Odier. He will describe how successful businesses should be passed down from generation to generation and which are the key steps in this process.
"In 2009, the Bulgarian companies involved in our association had a turnover of nearly BGN 1000,000,000 and employed a total of 10,000 Bulgarians," said Iliev.
According to FBN – Bulgaria, the largest and stable family companies in our country were established in the early 1990's. In none of these has the tradition been passed entirely onto the next generation. For more than 50% of young people, the crisis is an additional incentive to be active since businesses are facing many new challenges, according to a study of the organisation. One of the most serious steps which members of the younger generation need to confront is winning the confidence of employees.