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Gen Bus Feb 2012 - "Transitioning your family-owned business requires careful planning"

Gen Bus Feb 2012 - "Transitioning your family-owned business requires careful planning"

Gen Bus Feb 2012 - "Transitioning your family-owned business requires careful planning"

Excerpt


Transitioning your family-owned business requires careful planning


According to the Small Business Administration, approximately 90 percent of businesses in the United States are family owned. Many of these are small businesses, but about one-third of them are Fortune 500 companies. Statistics show that the nearly 20 million family-owned businesses in the United States create more than 80 percent of all new job opportunities and account for more than 60 percent of the country’s gross domestic product.


 


 




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