Statistics show that the proliferation of family businesses makes them a driving force in the world economy. Despite the adverse impacts of the pandemic, family businesses in the Philippines seem to have slowly mastered the art of resiliency amid these tough times. The unique structure of family businesses is one of the reasons that give it an edge against other traditional companies. Family businesses, like all companies across the globe, are not immune to challenges. This is because family businesses do not need to have internal political dynamics just to be able to adopt innovative processes.

Source: Manila Times May 18, 2021 16:18 UTC