Getting the Family Business Owner To Act on Succession Planning

Break it down into bite-sized pieces and identify and overcome certain key personal concerns.

David Thayne Leibell | Feb 16, 2022

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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 24.2 million family businesses in the United States, representing 64% of gross domestic product and employing 62% of the U.S. workforce.² Thirty-five percent of the businesses that make up the S&P

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