Family Business "New And Old Changing" Wuhan Textile And Garment Industry "Enterprise Two Generation" Succession

The story of "new and old alternation" in family businesses is always a story. If the successor is a son-in-law, the situation will be more subtle. Forbes's first survey of Chinese family businesses shows that the son-in-law strength of "two generations of enterprises" is rising. Reporters found that in Wuhan's clothing industry, some "son-in-law boss" has begun to take the helm and try to lead family businesses to modern enterprises.

According to the statistics of Forbes magazine, 1268 of the 2272 listed companies in China are private listed companies, of which 460 are family businesses, accounting for 32.68% of the total number of private listed companies. In the last 5 years, a total of 370 family businesses have entered the capital market, showing a blowout. From the data point of view, the total return on assets of listed family businesses has reached 6.66%, which is obviously better than 1.75% of state-owned listed companies and 2.82% of listed non family businesses.

According to statistics, among the leaders of these family businesses, there are the largest number of "husband and wife shops", followed by brotherhood, father son relationship and mother child relationship. But of the 460 listed family businesses, only 21 companies' founders have passed on to the next generation, accounting for only 4.57%. It is worth mentioning that the power of "son-in-law" is rising, which seems to be a choice that entrepreneurs who have no children to face.

Looking around the family business in Wuhan, there are not many industries in the succession period. Gan Dean, one of the first scholars to study family business in China, director of the school of Arts and Sciences of Jianghan University and master tutor of Hubei Academy of Social Sciences, told reporters: "the development cycle of family businesses is related to the overall strength of local private economy. The family business in Wuhan has a short history, so there are not many enterprises entering the waiting period.

As a leader in traditional industries in Wuhan, the reporters found that some Wuhan garment enterprises have begun to steer by "two generations of enterprises". "The majority of successors are sons," said the head of the Wuhan clothing association. "But a few son-in-law have come to the fore and have become the real leaders of the enterprises."

"The Japanese family business has the preface of having the eldest son, the prodigal son and the foster son. If the eldest son does not use it, he would rather pass it to the foster son, mainly from the" law "; but the family business in China passes the position, and the daughter can not pass the son-in-law, the main consideration is blood factor. But China's "son-in-law boss" is mostly in charge of the management rights, and the shares are also controlled by the daughter, which makes the son-in-law steering enterprises have more instability, Gan Dean said.