
Many of us have heard the family business statistics before, but they’re worth repeating. Approximately 90% of U.S. businesses are family firms.1 They range in size from small “mom-n-pop” businesses to the likes of Walmart, Ford and Marriott. There are more than 32.4 million family businesses in the United States, representing 54% of gross domestic product and employing 59% of the U.S. workforce.2 Thirty-five percent of the businesses that make up the S&P 500 are family controlled.3 Family businesses are also more successful than non-family businesses, with an annual return on assets that’s 6.65% higher than the annual return on assets of non-family firms.4 Unfortunately, only a little more that 30% of family businesses survive through t...
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