'Mittelstand' firms powering German success

Mainly family-owned, medium-sized companies are helping country to avoid crisis enveloping Europe.

    The strength of its well-known global brands have been cited as a factor in Germany's economic stability, but low-profile firms that produce highly-engineered goods are also helping to aid the economy amid Europe's financial crisis.

    The mostly family-owned medium-sized companies, known as the Mittelstand, employ more than two-thirds of the country's workforce.

    Adding to the Mittelstand’s success is Germany's veneration for trademark engineering, backed by an education system that offers more than 300 apprenticeships starting in high school, and creating a highly-skilled labour pool.

    Al Jazeera's Nick Spicer reports from southern Germany.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Daughters of al-Shabab

    Daughters of al-Shabab

    What draws Kenyan women to join al-Shabab and what challenges are they facing when they return to their communities?