Challenges and Responsibilities of Family Businesses in Cyprus
October 16, 2025
Succession is the biggest challenge faced by family businesses in Cyprus and globally, with less than 30% successfully passing to the second generation. Family businesses play a crucial role in the Cypriot economy, comprising 99% of registered enterprises. Many of them are facing issues such as high debt and difficulties in accessing new capital. Renos Ioannidis highlights that there are numerous challenges, but their true value lies in their people and values. These businesses are integral to the economic fabric of Cyprus.