Family businesses contribute significantly to GDP and employment

Wealth generation in market economies is supported by private companies and their ability to be competitive and provide employment.

Family businesses, by representing most of these societies, are admittedly a critical factor in the development of the regions where they are based, employing and retaining people nearby and assuming themselves as an engine of local microeconomics: people need housing, food, clothes, schools, etc.

The study “Family Businesses in the North”: Mapping, Portraits and Testimonials”, developed by UMinho in 2018, added to its database more than forty thousand companies and the number of workers they employ. The results are very significant:

  • 81% have up to 10 employees,
  • 16% between 10 and 49 and
  • 3% over 50 workers

This typification of Northern family businesses can be viewed from different perspectives. The one of the dimension reveals the fact that they are small companies, but also the large number, geographically dispersed in less favourable areas and reflecting the several hundred thousand workers.
On the other hand, the low expressiveness of those employing more than 50 people is not negligible because when they reach the thousands, they are responsible for a very significant number of jobs.

Another factor to consider is that many large entities outsource many smaller ones, which also reflects the need and importance of this diversity of companies.

Lameirinho is a family business founded in 1948 by Joaquim Coelho Lima, whose mission is to “Produce and distribute home textile products that aim to provide the ultimate consumer with well-being, special moments and unique experiences.”
The current Administration of the group is presided by the son, Albano Coelho Lima and includes the participation and involvement of his children, which allows them to intuit a preparation in order to ensure the continued development and sustainability of this business group based in Guimarães.
Reaching 70 years of age, in a sector that has evolved a lot in recent years, was possible based on an international business positioning (selling in five continents), competing with a reinforced bet on innovation and design, to differentiate the most 12 million pieces produced annually.
Turnover in excess of €63 million, with huge exportation and net results of around €7 million, are indicators that reinforce the dynamism and importance that the company has in the sector and contribute to the national wealth and the region where they are inserted.
Another indicator of the importance of this family group is reflected by their nearly 700 workers. This significant number of employees, with a large majority living in the surrounding areas, positions the company as a significant player in capturing and retaining people outside major cities and the coastal strip.

Themes to reflect upon:

  • What is the position of our company in the business sector in which it operates?
  • Is our relevance in the geographical area of implementation a differentiating factor for the company and the region?
  • How can we highlight and enhance our involvement with the local environment?

António Nogueira da Costa
Expert in Family Businesses

https://www.vidaeconomica.pt/vida-economica-1/empresas-familiares-contribuem-significativamente-para-o-pib-e-o-emprego

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