Technology

Largest 500 family businesses amount to world’s third largest economy

Published

1 year ago

March 13, 2025

The 500 largest family businesses generate US$8.8t and employ more than 25 million people across 43 jurisdictionsNearly half participated in M&A activities in the last two yearsMore than a third have a legacy extending beyond a century

LONDON, March 13, 2025 /PRNewswire/ — Family-owned enterprises continue to be a major driver of global economic growth. The world’s 500 largest family businesses generate US$8.8t in revenues – a 10% increase from the 2023 index – and employ 25.1 million people worldwide across 43 jurisdictions. The aggregate revenues of these businesses, if compared to GDP by country, equate to the world’s third largest economy, ranking behind only the US and China. These and other findings were published today in the 2025 EY and University of St.Gallen Global 500 Family Business Index, which is a biennial ranking of the 500 largest family businesses in the world by revenue.

Europe remains home to almost half (47%) of the companies on the index, with North America housing 29% and 18% being based in Asia. Regarding industry sectors, retail has the largest representation, leading with 20%. The second largest sector is consumer (19%), the third is advanced manufacturing (15%) and the fourth is mobility (9%).

Despite today’s challenging business environment, mergers and acquisitions (M&A) remain a cornerstone of growth and capital strategy for these types of companies with the top 500 well positioned to take advantage and seize opportunities. Forty-seven percent have engaged in one or more transactions in the last two years and of the disclosed deals 34% completed transactions exceeding US$250 million.

Seeking long-term value, being agile and having an innovative approach is what gives these businesses a strategic advantage and speaks to why 34% of the companies have more than a 100-year legacy and 85% have been operating for more than 50 years. At the top end of the spectrum, a Japan-based company has been running for more than 400 years, and two European companies have been operating for more than 300 years.

Lauri Oinaala, EY EMEIA Family Enterprise and EY Global NextGen Leader, says:

“It is remarkable how, amid notable market disruptions, the world’s leading family enterprises can shape their future for the better, combining a unique blend of long-term vision, resilience and drive toward sustainable growth. Their diverse capital sources and readiness for mergers and acquisitions enable them to seize strategic opportunities and navigate slower-growth periods.”

Thomas Zellweger, Professor from the Center for Family Business at the University of St.Gallen, says:

“Family-owned businesses have a remarkable ability to adapt and thrive in dynamic environments. The focus of family firms on their long-term survival, combined with high concern for efficiency and conservative financing practices, sets many of these firms up for continued success.”

Notes to editors

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About EY Family Enterprise

EY teams are dedicated to supporting family enterprises in shaping their future with confidence. As trusted advisors to most of the world’s largest 500 family enterprises, EY teams have the experience and know-how to support you, your family, your business, and your investments. Our mission is to assist you to grow a more valuable enterprise, navigate disruptions, and manage successful generational transitions.

Through the EY Family Enterprise DNA Model, we focus on four strategic drivers for long-term success: business growth, company capitalization, generational transition, and shareholder liquidity. Our model is built on over 100 years of experience working with family enterprises like yours.

For more information, visit ey.com/familyenterprise

Lauren Mosery
EY Global Media Relations
+1 732 977 2063
lauren.mosery@ey.com

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SOURCE EYGS LLP

Technology

1-800Accountant Launches Tax Savings Services Designed for 1099 Workers

Published

38 minutes ago

April 22, 2026

New offering helps independent contractors structure their business to reduce their tax burden from day one

NEW YORK, April 22, 2026 /PRNewswire/ — 1-800Accountant, the nation’s leading virtual accounting firm for small businesses, announced the launch of a new service offering built specifically for 1099 workers and independent contractors. The service helps freelancers and self-employed professionals work with an accountant to select the right business setup for their income, with a focus on reducing taxes from the start.

Growth Is Outpacing Tax Readiness

Independent contractor work has grown significantly in recent years. 1-800Accountant’s client data shows sharp year-over-year growth across contractor-heavy industries, with Consulting up 17%, Construction up 10%, and Service-sector clients growing more than 200% compared to 2024. Despite this growth, many contractors continue to overpay their taxes because they operate without a formal business structure in place or the right tax election.

The gap is particularly visible in industries like Healthcare, Engineering, and Legal, where LLC adoption among 1-800Accountant clients sits at 81%, 72%, and 71%, respectively, well below the 90%-plus rates seen in higher-adoption industries like Construction and Real Estate. 1-800Accountant’s new business tax optimization service closes that gap by matching contractors with the right business type while ensuring their business is set up correctly before they file their first return.

“Independent contractors continue to be one of the fastest-growing segments of the American workforce, and they are also among the most underserved when it comes to strategic tax planning,” said Mike Savage, Founder and CEO of 1-800Accountant. “That lack of planning means that most 1099 workers don’t realize how much they’re leaving on the table. This service changes that. We’re giving contractors access to the same strategic advantages that established businesses have, ensuring the right business setup from the beginning.”

Tax Strategy Built In from Day One

These services walk clients through a structured process that includes accountant-recommended business types, registering with the appropriate state agencies, and coordinating with an accountant to ensure alignment between the structure and the client’s specific tax situation. 1-800Accountant integrates business setup for 1099 earners into a broader tax strategy tailored around each contractor’s income level, filing status, and long-term goals.

“What sets us apart is the tax strategy layer,” said Ryan Teeples, Chief of Strategy at 1-800Accountant. “What contractors and gig workers actually need are professionals to help them understand which tax setup makes the most sense for their income, their industry, and where they want their business to go. Then, we do the work to save on both their business and personal taxes. That’s what we’re delivering here.”

The service is available now to new and existing 1-800Accountant clients. Pricing starts at $19 per month (plus any government filing fees) and includes business setup evaluation, tax return preparation and filing, state registration, federal registration, simple-to-use AI bookkeeping software, and a consultation with a tax expert for onboarding and explanation of their individual tax situation.

About 1-800Accountant

1-800Accountant is the nation’s leading virtual accounting firm for small businesses and independent contractors. With a team of credentialed accountants and tax professionals, 1-800Accountant provides bookkeeping, tax preparation, tax planning, and advisory services to clients across all 50 states. The firm is committed to making professional accounting accessible and affordable for business owners at every stage.

Contact: Wyatt Johnson
Content Manager, 1-800Accountant
920-807-9159 | media@1800accountant.com

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SOURCE 1-800Accountant

Technology

9fin launches in APAC to expand global credit coverage

Published

38 minutes ago

April 22, 2026

With APAC playing a bigger role in increasingly complex global credit markets, 9fin brings the news, data and AI tools professionals need to navigate volatility

HONG KONG, April 22, 2026 /PRNewswire/ — 9fin, the AI-native information platform for global debt markets, has formally launched in the Asia Pacific region, giving credit professionals access to cutting-edge news, data and analysis across private and public bonds and loans.

As the 9fin team continues to grow quickly across APAC from its initial base in Hong Kong, it is supporting firms locally by providing proprietary credit intelligence, comprehensive data, and AI-powered workflow tools, all within one unified platform.

The launch comes as the tussle between public and private markets intensifies in APAC, making it more important than ever for banks, asset managers, advisors, and law firms to have visibility across the full credit landscape. While bond issuance has dropped amid geopolitical disruption, private credit activity remains robust as borrowers seek alternative financing options.

By combining deal intelligence from local sources with its extensive global credit database and AI tools, the 9fin platform gives users a comprehensive view across fragmented markets. The APAC platform includes coverage of more than 1,800 issuers and 16,000 instruments, with issuance history dating back to 2003 following 9fin’s acquisition of Bond Radar, in March 2025.

9fin is already used by more than 300 institutions globally, including KKR, Apollo, BNP Paribas, and Kirkland & Ellis. The company’s APAC buildout — supported by its $170 million Series C fundraise in March 2026 — marks the next phase of its global expansion.

Steven Hunter, CEO and co-founder at 9fin, commented: “APAC is a complex region and is becoming even more so as private markets expand and geopolitical volatility increases. The region needs a faster, smarter platform covering the full picture across bonds, loans, private credit and distressed. That’s exactly what 9fin provides. With our full platform now live in APAC, we’re giving our users the clarity to make informed decisions, faster.”

9fin’s APAC launch follows its expansion across the US, Europe, and Latin America, with CEEMEA to follow.

About 9fin

9fin is the AI-native platform for global debt markets. Founded by former J.P. Morgan banker Steven Hunter and Deutsche Bank engineer Hussam EL-Sheikh, the company combines data, analytics, and AI-powered workflows in a single platform, helping clients work smarter and faster to outperform their peers.

The company is headquartered in London, with offices in New York, Hong Kong, and Belfast and with teams across Latin America and Asia. For more information, visit 9fin.com.

Media contacts
Jessica Simpkin
jessica.simpkin@9fin.com
Shree Dhond/Katie Nerantzis
Dukas Linden Public Relations | 9fin@dlpr.com

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Technology

Trimble First Quarter Earnings Call and Webcast

Published

38 minutes ago

April 22, 2026

WESTMINSTER, Colo., April 22, 2026 /PRNewswire/ — Trimble (Nasdaq: TRMB) will hold a conference call on Wednesday, May 6, 2026 at 8 a.m. ET to review its first quarter 2026 results. The call will be broadcast live on the web at https://events.q4inc.com/attendee/544327873. Analysts who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/544327873?pwd=s5ilhwSm. Upon registration, dial-in details will be sent via email to the registrant.

About Trimble

Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it is helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: www.trimble.com.

FTRMB

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SOURCE Trimble