Family business outdated model or cornerstone of a human- centered economy. We often hear about family businesses through succession, paternalism or a preference for tradition over innovation. Their importance in the economy is often underestimated and their role in society is often overlooked. What is a family business? There are multiple ways to define it. For the European Union, a family business requires both majority voting rights and the involvement of at least one family member in governance. As an exception, for listed companies, a single condition applies. Family ownership of 25% of voting rights. So yes and midcaps are largely familyowned. Nearly 70% ofmemes and over 60% of midcaps in France. But some of the world's largest companies are also family businesses like Walmart, Ford, Nike, Volkswagen, Ferrero or LVMH. Why does family business matter today and why is it part of the solution for the future? Not despite its family nature, but because of it. First of all, family businesses are not a niche. They are a central pillar of our economies. They represent 70% of global GDP, 60% of global employment, and more than 60% of European companies. Family businesses are not inherently more virtuous or moral, but their shareholders by nature favor stability and long-term investment. Their perspective is generational, not quarterly. They see no benefit in killing the goose that lays the golden eggs by forcing unsustainable growth. Their capital structure makes them less vulnerable to financial market fluctuations. Stable governance and strong local roots boost their resilience and their adaptability to economic and geopolitical crisis. Family businesses are anchored in time. They are also anchored in space. Families are rooted in territories. They have local, national, and continental roots. This often leads them to make the committed choice to stay in their regions and resist offshuring. They can strengthen sovereignty. Research shows that employees in family businesses tend to enjoy greater job stability, fewer layoffs, and higher satisfaction. This translates into lower absentism and a reduced propensity to strike. So family businesses have strengths, but they also have challenges. Today the key challenge is succession. Onethird of European family businesses will have to be transferred in the next 10 years either to family members or to new entrepreneurs willing to think long term. Yet fewer than a quarter survive to the second generation and less than 20% to the third. If succession fails, jobs, skills, and identity are at stake. Family businesses are often criticized for their nepotism and patentalism. And yes, intraf family succession, which most family business owners want, can encourage social reproduction and privilege. But most family businesses are not global luxury groups. The vast majority arememes rooted in their local communities whose leaders feel responsible for these ties. Family businesses are also seen as places of prristidal struggles and bloody successions. And yes, family firms are emotional spaces. Succession is rarely simple. But they are also a place where the company is not guided solely by profit maximization. It is a human- centered business. Responsible family businesses anchored in time and space won't make inequalities worse. They can be the glue of the social contract. The question is how can we help them put long-term human centered value back at the heart of our economies beginning with Europe with global reach. To go further explore our research at HC Paris Dtobatz Foundation Center for Family Business or read further on DARE HC media hub.