A lack of sector specific policies is a cause for concern for many family businesses in Argentina, but could the appointment of a new president spell a change in their fortunes? Michael Finnigan takes a look

Family businesses play an important role in Argentina – the third largest economy in Latin America, where at least 80% of the country’s 1.2 million businesses are privately owned. Yet a recent collapse in commodity prices is wreaking havoc on the region’s emerging economies. One saving grace, praised by international investors, is the appointment of new president Mauricio Macri, who is a member of family-run conglomerate Grupo Macri. It is hoped that the 57-year-old’s innate understanding of the issues faced by families will result in better conditions for businesses across the board.

Ernesto Niethardt, a consultant for Argentine family business consultancy Niethardt & Associates, shares the enthusiasm. When asked what Argentine family businesses might want from the new government, Niethardt had three suggestions: “Firstly, I think they would like to have public recognition for their role in the Argentine economy. Secondly, I think they’d like to see some changes made around taxation. And finally, easier access to loans.” The former professor also says that the education of the next generation is a significant problem that needs to be tackled.