Abstract: Family Business, Employment, and GDP

Carl Magnus Bjuggren, Hans Sjögren, and Dan Johannson


We analyze the proportion and importance of family business in the total economy of Sweden. Our analysis adds to the literature by including all listed firms and by investigating a longer time period. The main contribution is to extend the analysis to include all firms in the economy using census data. Family businesses represent half of the listed firms and three-quarters of all firms. They account for one-fourth of total employment and a bit less of GDP. Our estimates are too low, because, for instance, firms owned by emigrated Swedish entrepreneurs are not identified as a family business.