Puerto Rico Chamber of Commerce Convention 2026 Highlights Family Businesses as a Driver of Economic Growth
San Juan, Puerto Rico, June 11, 2026 – During the second day of the Puerto Rico Chamber of Commerce (PRCC) 2026 Convention, family-owned businesses were recognized as one of the primary pillars of Puerto Rico’s economy. Business leaders agreed on the need to strengthen this sector through public policy, effective succession planning, and governance structures that ensure long-term sustainability across generations.
“Family businesses are the backbone of Puerto Rico’s economy. They create jobs, reinvest in our communities, and demonstrate a genuine commitment to the development of our people. Behind every family business are generations of hard work, sacrifice, and vision that have contributed to the economic stability of our regions. That is why it is essential to recognize their contribution and create the conditions necessary for them to grow, innovate, and successfully transition from one generation to the next,” said Margaret Ramírez Báez, Esq., President of the Puerto Rico Chamber of Commerce. .
During the first panel discussion, Manuel Morales Jr., Chairman of the PRCC Family Business Committee, emphasized that the time has come to recognize Puerto Rican entrepreneurs as a priority within the Island’s economic planning strategy.
“Family businesses are deeply human institutions where values, history, culture, and family loyalties intersect with business risk and strategic decision-making. We must place these entrepreneurs at the center of our economic development strategy and make them an integral part of public policy,” Morales stated.
He also highlighted that one of the greatest challenges facing family-owned businesses is family communication.
“Many businesses do not disappear because of economic factors but because of a lack of communication among family members. In addition, children should not feel obligated to become successors; generational transitions should stem from interest, preparation, and commitment.”
Business succession emerged as one of the central themes of the discussion. Panelists agreed that preparing future generations is critical to ensuring business continuity and encouraging them to continue investing and creating opportunities in Puerto Rico.
Marco J. Texidor, Executive Vice President of B. Fernández Holdings, underscored the importance of establishing clear governance rules to ensure the continuity of family enterprises. Among the measures implemented within his organization, he highlighted corporate policies that establish educational and professional experience requirements for family members interested in leadership positions, as well as guidelines governing share ownership and executive retirement.
Panelists also stressed the importance of educating future generations about the history of their businesses, helping them understand operations, and enabling them to earn the trust and credibility of employees and stakeholders. They further emphasized that not every family member must join the family business and that talent development should remain a priority for all organizations, including the children of founders.
Meanwhile, Ramón Pérez Blanco, CEO of Fulcro Insurance, described family-owned businesses as a true anchor of Puerto Rico’s economic development.
“We celebrate the arrival of large corporations to Puerto Rico, but the reality is that most of the businesses driving our economy are family enterprises like ours. The challenge for the second generation is to continually ask how they can create value for shareholders while ensuring the long-term sustainability of the organization,” he said.
The day also featured a keynote address by political scientist, author, and international speaker Agustín Laje. “An efficient economic system is one that can satisfy the needs of the population. It requires information about what to produce, how to produce it, when to produce it, and how to incentivize people to achieve those goals. Organizations must continuously seek ways to become more efficient and productive while relying on expert guidance to provide solutions,” Laje stated.
Finally, PRCC President Margaret Ramírez Báez presented the President’s Special Award to Sebastián Negrón, former Secretary of the Puerto Rico Department of Economic Development and Commerce, in recognition of his contributions and support to Puerto Rico’s business ecosystem.
Media Contact:
Karen Garnik, APR, Fellow PRSA
787.502.2424, karen@globalvisioncomms.com
Isadora Hernández
787.310.3807, isadora@globavisioncomms.com
Brenda Vázquez
787.392.6868, brenda@globavisioncomms.com