K&H: there will not be an innovation boom in family companies now

By: Trademagazin Date: 2023. 07. 21. 11:39

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The current economic situation is not favorable to the innovation efforts of family companies, their innovation index has decreased by 2 points and currently stands at 27 points, according to the results of the first half of the K&H research.

Companies will mainly cut back on the purchase of software and machines in the next year, and only a fraction of family companies have an innovation strategy. However, development is essential, about two-thirds of European economic growth in recent decades can be attributed to innovation. There is a great need for good examples, which is why K&H launched the K&H family companies excellence award this year as well. In addition to innovation, inspiring company practices are expected in the categories of successful generational change, long-term strategy and social and environmental responsibility.

The desire for development of family companies has moderated: their K&H innovation index, which examines the innovative activities and activities of the companies implemented so far and planned in the future every six months, is currently at 27 points after a decrease of 2 points. The change can be attributed to the fact that they are planning fewer developments, and the innovation strategy is not yet their strong point.