Observatory on family businesses
Collection, processing and dissemination of statistics and economic information on family businesses in Italy
The field of observation related to the project Model Elaboration for Promotion and Analysis of Italian Family Business is represented by the universe of capital-based companies enrolled to the Register of the Chambers of Commerce. It is a public register, stipulated in the Civil Code, that had complete implementation from the beginning of 1996, with the Law associated with the reorganisation of the Chambers of Commerce and the following implementing Regulation.
The Business Registration can be defined as the registry of the enterprises: you can found in fact data concerning constitution, changes, cessation, of all the enterprises with any juridical form and sector of economic activity, with headquarters or local units on the national territory, as well as the other subjects established in Law.
The Companies Register thus provides a complete picture of the legal situation of each enterprise and it is a fundamental file for the elaboration of indicators of economic and entrepreneurial development in every area of affiliation. The information that can be accessed through this service concern
6 million recorded enterprises in Italy;
10 million people (entrepreneurs, shareholders, directors, auditors);
900,000 financial statements of corporations applied for every year.
Data of the Observatory AUB
The starting point for the analysis of the project Model Elaboration for Promotion and Analysis of Italian Family Business is the data set of the AUB Observatory (AIdAF, UniCredit e Università Bocconi) on the Italian family business. According to them the italian family companies with an annual turnover exceeding 20 million euro are considered to be:
- One or two families hold at least 50% of the capital (if not listed);
- One or two families hold at least 25% of the capital (if listed);
- The firm is controlled by another legal entity which satisfies one of the two criteria stated above.
Data from the Observatory set up by UCV
Starting from a subset of 2,000 corporations based in Veneto region which are a source of AUB Observatory, Unioncamere Veneto has created a new dataset, linking the information of Infocamere on ownership.
Data quality control
The new data set was subjected to a thorough quality control of data, by doing the following these steps: elimination of duplication, verification of the completeness and accuracy of information, sample testing with historical certified company registration.
Definition of the Algorithm
For the creation and definition of the algorithm were used the following information: company tax code, social security number, name and surname (company name) partner, share of partner ownership. Furthermore have been created some new functional variables for the correct identification of the nature of the shareholders (physical and legal person) and of the ownership of the business.
According to the UCV Observatory the share capital societies have been considered family business distinguishing the typology of ownership structure.
Case 1: corporate structure composed only of individuals
Companies that are at least 50% (+1) owned by one;
The subsidiaries at least 50 percent (+1) by two owners (same family name);
The subsidiaries at least 50 percent (+1) owned by three or more owners (same family name);
Case 2: corporate structure composed of legal persons
The subsidiaries at least 50 percent (+1)owned by a family business;
The subsidiaries at least 50 percent (+1) owned by two family businesses;
The subsidiaries at least 50 percent (+1) owned by three or more family businesses;
Case 3: mixed company structure (physical and legal persons)
The subsidiaries at least 50 percent (+1) owned by two or more partners (same family name and same company name).
In Italy the family businesses are 10,231, the 65.1% of all companies with a turnover exceeding 20 million Euros. In Veneto is 70.8%. Family businesses generate around 790 billion euros in revenue and 177 billion euros in value added, employ approximately 2.3 millon people, of whom 1.5 million in Italy (corresponding to 13.4% of the employees of Italian businesses in the industrial and the services sectors). Source: AUB Observatory
Family Businesses in Italy
Absolute values and percentages
Source: AUB Observatory