Family businesses are a cornerstone of the Moroccan economy, representing 70% of all companies and contributing 40% of the country's GDP, according to a study by the Institut de l'Entreprise Familiale du Maroc (IEF). The findings were presented during a conference-debate titled 'The Real Weight of Family Businesses, the Invisible Part.'
The study highlights that these businesses employ a significant portion of the workforce, but face a critical challenge: succession. Only 30% of family businesses survive into the second generation, and just 10% make it to the third generation. This 'succession cliff' threatens the long-term stability of many firms.
Experts at the conference emphasized the need for better governance, professional management, and early planning to ensure successful transmission. The IEF study also noted that family businesses often operate in traditional sectors such as commerce, real estate, and manufacturing, but are increasingly present in services and technology.
The conference brought together business leaders, academics, and policymakers to discuss strategies for preserving the legacy of family enterprises. Recommendations included creating family constitutions, separating ownership from management, and investing in the education of the next generation.
