Some enterprises can trace their direct lineage back through many centuries. But the trend is for rise-and-fall cycles to become shorter — over the past half-century the average length of time a company is in the US S&P 500 index has fallen from more than 60 years to just 18. Globally, some see big companies’ longevity returning to the pattern of the 19th and early 20th centuries, before trade rules and legal changes helped create a bulge of long-lived companies.
This magazine, crowning a series of Financial Times conferences and videos, draws on the breadth and depth of FT writers to examine what it takes or companies to survive. There are stark regional variations: the number of companies older than 200 years is vastly higher in Japan than in Germany, its closest rival. There are sectoral norms, with the ranks of businesses catering to everyday needs — such as drinking and accommodation — heavy with survivors. And structure and governance can have an effect on survival rates. Family-owned businesses, for example, are claimed to last longer as well as perform better than others.


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