In an economic fabric like the Italian one, "generational turnover is an important topical issue", a delicate transition which, if it fails, could cause Italy to lose around 13 billion euros a year. The estimate was announced today by the CEO of the Unicredit group, Federico Ghizzoni
“In Italy – explained the CEO – over 50% of entrepreneurs at the head of family businesses are over 60 years old. There are 6 million family businesses and about 10% face the generational change every year. The first step is easier. In the second step, which is never easy, 50% of the companies make it and 50% don't make it, disappearing or passing on to third parties. When it comes to the third generational shift, only 15% of companies manage to carry it forward successfully".
But, underlines Ghizzoni, “when 10% of companies fail to continue on the first pass, it is estimated that around 13 billion of wealth is lost in Italy which, in some way, is lost”.
