Family Business Facts

Family Business Facts - Conway Center for Family...

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Conway Center for Family Businesses. “Family Business Facts, Figures and Fun.” 2011. 07/17/2011. <http://www.familybusinesscenter.com/resources/family-business-facts/> Family Business Facts, Figures and Fun Although you may not know it, family businesses are economic powerhouses, creating jobs, paying taxes and helping build vibrant communities in Central Ohio and across the country. America's Economic Engine The greatest amount of America's wealth lies in family-owned and family-controlled businesses. Family firms comprise of 80 to 90 percent of all businesses in America. Conservative estimates suggest there are more than 5,500 independent family businesses in the nine-county Central Ohio area alone! Thirty-five percent of Fortune 500 companies are family owned or controlled. Sixty percent of all public companies in the U.S. are family controlled. Family-owned businesses account for approximately 60 percent of total United States employment. More than 50 percent of the gross domestic product (GDP) in the United States comes from family- owned businesses. Sixty-five percent of all wages paid are due to family-owned and controlled businesses. Family Businesses have Longevity The average life span of a family-owned business is 24 years. More than 30 percent of family-owned businesses survive into the second generation. Twelve percent will still be viable by the third generation. Three percent of all family-owned business will operate into the fourth generation and beyond. Family Businesses Create Wealth Approximately $.4 trillion of net worth will be transferred through succession by 2040, with $800 billion being transferred in the next 20 years. KSU Coles College of Business. “10 Facts About Family Owned Businesses.” 2011. 07/17/11. <http://coles.kennesaw.edu/centers/cox-family-enterprise/10-facts.htm> 10 Facts About The Family Owned Businesses: 80% of the world's businesses are family owned. Family-run businesses account for more than half of the nation’s gross domestic product. Nearly 35% of family-owned businesses are Fortune 500 and other large companies including Ford, Koch Industries, Cargill, Wal-Mart, Weyerhaeuser, Loews, and Ikea. Approximatley 60% of all public companies in the US are family controlled. Family-owned businesses account for 60% of total US employment, 78% of all new jobs, and 65% of all wages paid. Many family businesses were started after WWII.
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Family Business Facts - Conway Center for Family...

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