In Germany, over 80% of companies are family businesses. To survive in the 21st century, family firms need to tackle two major challenges – digitalization and globalization – by embracing new technologies and systems. Globalization is luring away the successors of family businesses, with many of the next generation preferring alternate careers.
As a leading German business school, WHU has committed to support the future of family businesses with the launch of two new scholarships. Both scholarships cover up to two semesters of tuition fees for the innovative Master in Entrepreneurship Program.
The Women in Family Business Scholarship aims to empower women who want to take on executive positions within the family firm and have an interest in its development. The Digitalization in Family Business Scholarship will equip the next generation with the tools and support to digitalize family firms for the future. To find further information on each of the scholarships and their prerequisites, see our Family Business Scholarships page.
“Family businesses form the backbone of the German economy. Their contributions have increased GDP and increased employment. We need talented successors to maintain this pillar of our society in the face of digital and global challenges,” said Professor Dr. Nadine Kammerlander from WHU’s Chair of Family Business. “The scholarship should encourage and educate the next gen to master the challenge of making their family business fit for the future.”