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- Family
businesses comprise 80 to 90 percent of all business enterprises
in North America (Family Business Review, Summer 1996)
- Family
owned businesses account for 60% of total U.S. employment, 78%
of all new jobs, and 65% of wages paid (Financial Planning,
Nov 1999)
- Among
the companies listed on the Standard & Poor's 500 Index,
34 percent are family businesses. (Ronald C Anderson and David
M. Reeb, Founding-Family Ownership and Firm Performance: Evidence
from the S&P 500)
- Nearly
40% of family businesses in America will be passing the reigns
to the next generation over the next 5 years (BusinessWeek,
August 11, 2003)
-
By 2050, virtually all closely held and family owned businesses
will lose their primary owner to death or retirement. Approximately
$10.4 trillion of net worth will be transferred by the year
2040, with $4.8 trillion in the next 20 years (Robert Avery,
Cornell University, “The Ten Trillion Dollar Question:
A Philanthropic Gameplan”)
- Only
40% of family owned businesses survive to the second generation,
12% to the third, and 3% to the fourth (Boston Globe, May 4,
2003)
- Of
CEOs due to retire within 5 years, 55% have not yet chosen their
replacement (Arthur Anderson/Mass Mutual, 2003)
- There
are 1.2 million husband and wife teams running companies (NFIB
2003)
- The
number of family businesses run by women have grown 37% in the
past five years with an average annual revenue was $26.9 million
last year (Boston Business Journal, September 4, 2003)
- 52%
of family firms have hired at least one female family member
full-time, while 10% employ two female family members (Arthur
Anderson/Mass Mutual, 2003)
The
typical American family firm donates $50,000 annually to philanthropic
causes, mostly to local, educational and religious organizations
(MassMutual/Raymond Institute American Family Business Survey,
2003)
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