Why Family Businesses are the Hidden Gems of Latin America

Family businesses are the backbone of Latin American economies. More than 85% of companies in Latin America are family-owned. They account for 60% of the region’s GDP and employ more than 70% of its workforce. Despite these statistics however, relatively little study has been done on family businesses in the region and much is yet unknown when it comes to their challenges and recipes for success. Our guest on this episode is Prof. Claudio Müller who leads a team of academic researchers who are determined to change that. Claudio is a teaching professor at the School of Economics and Business at the University of Chile. He and his colleagues collaborated on the book, Family Firms in Latin America, which aims to provide an academic understanding of family business dynamics within the region’s context. Professor Müller recently joined Ramia El Agamy on the Family Business Podcast to discuss their methodology and some of the more surprising findings that came out of their comprehensive research of Latin American Family Businesses.