Echoes of 1789

Why Silence Breeds Rumor in Family Businesses

On October 1, Le Figaro published a striking piece on the “Grande Peur” of 1789. Historians showed how fear, carried by rumor, spread across France with the speed of a virus. Communities acted not on facts but on imagined threats.

The parallel with family enterprises is clear. In the absence of structured communication, even the smallest ambiguity multiplies. A delayed dividend, a discreet resignation, or a vague remark at a board meeting can ignite speculation. Fear travels faster than truth, dividing relatives, eroding trust, and freezing decisions that matter for continuity.

The lesson of 1789 is timeless: fear thrives in silence. The antidote is not denial but structure. Families must build systems of trust strong enough to resist the contagion of rumor. That means transparent communication, trusted channels of dialogue, education that equips members to interpret events with clarity, and rapid responses that cut rumors short before they mutate into conflict.

Continuity in family enterprises rests not only on wealth, but on the discipline of truth and the courage to make trust an institution.

W.