Q COSTARICA — Family businesses are one of the pillars of the global economy. Various international studies estimate that they represent between 70% and 90% of global GDP and generate nearly 60% of employment, solidifying their position as one of the essential drivers of economic development.
However, ensuring their continuity over time remains one of the greatest challenges in the business world. International evidence shows that only around 30% of family businesses successfully transition to the second generation, and less than 15% reach the third, highlighting the difficulty of consolidating these businesses in the long term.
According to Savia Studio, a firm specializing in supporting evolution and governance processes in family businesses, this challenge is particularly relevant in economies like Costa Rica’s, where the productive fabric is largely composed of small and medium-sized enterprises, many of them family-owned.
“In Costa Rica, strengthening the management of family businesses is not only a business challenge. It is also a key factor in improving the productivity, competitiveness, and sustainability of the country’s business ecosystem,” says Felly Salas, Founding Director of Savia Studio.
In the early stages of a family business, the founder’s leadership and the close relationships among family members typically drive business growth. However, as the organization grows, so does its complexity: new markets emerge, the number of employees increases, and strategic decisions require more sophisticated management structures.
In this context, according to Savia, many organizations face recurring challenges, such as the concentration of decision-making power in a single person, the absence of formal governing bodies, a lack of clarity between family and business roles, and difficulty managing generational transitions.
Given this scenario, business professionalization becomes a turning point for business continuity. This process involves institutionalizing how strategic decisions are made, strengthening oversight mechanisms, and developing organizational leadership that transcends individuals.
“Professionalization doesn’t mean losing the family character of the company. On the contrary, it means building the structures that allow that business legacy to be sustained and evolve over time,” Salas explained.
One of the central elements of this process is corporate governance. International standards such as ISO 37000 indicate that organizations need clear structures that guide strategy, monitor performance, and ensure accountability. In family businesses, these systems also help balance the relationship between family, ownership, and management.
Another determining factor for business continuity is intergenerational dialogue. The transfer of leadership, vision, and purpose within the business-owning family is key for the business to adapt to new contexts and emerging opportunities.
In this sense, Savia Studio supports family businesses in professionalization processes, strengthening governance, and preparing for generational transitions, helping to build organizational structures that allow them to sustain growth and competitiveness in the long term.
For the firm, the challenge for family businesses is not only to preserve the legacy built by one generation, but to transform it into business institutions capable of enduring and continuing to generate value for future generations.
From RevistaSumma.com