Prof. Dr Dr h.c. Friederike Welter (IfM Bonn/University of Siegen) explained at the RWI Economic Talks in Essen in mid-November why the Mittelstand remains an economic driver in Germany. She said that the Covid-19-pandemic has shown that Mittelstand companies can survive crises. But the Mittelstand has changed over time – from the 19th-century patriarchate to the modern entrepreneurship with its diverse forms. In this context, the IfM President also pointed out the global importance of hidden champions.