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Not sure why they use this in marketing
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this post was submitted on 31 Oct 2023
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The difference is that they usualy plan for a longer time, sometimes for generations, while the usual CEOs plan very short term, because they don't care what happens with the company after them. Family owned business don't have to give out part of their earnings every year, so it's not that big of a problem if they have little earnings in a year, while the market share of a normal Company will immediately fall. So there actually is a huge difference.
That aside I don't know why they market it like that. I think it just sounds more trustworthy.
A company can be family owned and being public at the same time. I work in one, just happen that the family who owns it have a controlled majority of the shares.
So they still are in control what happens. The rest of the shareholders are just along for the ride and collect a bit of money