Next generation of German entrepreneurs enter scene

German sons and daughters of entrepreneurs are self-confident heirs, according to a new study. They want to take on responsibility, they're ambitious, they focus on innovation and on a team-oriented leadership style. 

More than any other group, the next generation of German family business owners will shape the German economy and society of tomorrow - but for now, the sons and daughters of family business owners are keeping a low profile.

Researchers from the Zeppelin University in Friedrichshafen tried to shed some light on the question of who members of the next generation of leaders are. Together with the business monthly "Impulse" and the Foundation for Family Businesses, the researchers polled 235 potential family business successors between the ages of 16 and 35 anonymously about their opinions and values.

The first result: The days of born "heirs to the throne" are over. The young men and women have their own demands and ideas they want to pursue. They don't necessarily simply follow the orders of their "patriarchs" any more.

Most of Germany's young future entrepreneurs show a high interest in politics, but only few want to become active in the field themselves. More than a third are even convinced politicians are only interested in power, influence and money. A mere 15 percent said they could imagine a professional future in politics for themselves. The vast majority vote for liberal-conservative parties. But over the last few years, an increasing number have abandoned the free-market liberal FDP, which has traditionally called itself the party for the middle class.

Responsibility in parents' firm

Some 60 percent of the survey's participants planned to take over as successors in their own family businesses; only 13 percent have other plans. A quarter of participants have not made a decision yet. As a professional alternative to succession, more than 80 percent say they would want to start their own company or be employed in a small or medium-sized business.>>>