Family Owned Business Statistics

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Family Owned Business Statistics Data
Percent of family owned businesses that remain in the family into the second generation 30 %
Percent of family owned businesses that remain in the family into the third generation 12 %
Percent of family owned businesses that remain in the family into the fourth generation 3 %
Number of husband and wife teams running companies 1,200,000
Percent of family owned businesses led by a female CEO or President 24 %
Percent of family owned businesses that indicated the next successor is a female 31.3 %
Percent of family owned businesses that have women in top management positions 60 %
Percent of Fortune 500 businesses that are family-controlled 35 %
Percent of U.S. gross domestic product that family businesses account for 64 %
Percent of the countries employment generated by family businesses 62 %
Percent of all new jobs created by family businesses 78 %
Average annual workforce turnover of family businesses 9%
Average annual workforce turnover of non-family businesses 11 %
Average amount donated annually by a family run business $50,000
Percent of family firms that were controlled by supervisory or advisory boards 94 %
Percent of family business owners that expect to retire by 2017 40.3 %
Amount of family business owner net worth that will be transferred by 2040 $10.4 Trillion
Percent of those retiring who have not selected a successor 47 %
Percent of family business owners who have no estate plan beyond a will 31.4 %
Reasons for Family Business Succession Failure Percent
Problems with communication and trust 60 %
Lack of preparation from the next generation 25 %
All other issues (e.g. poor tax or financial planning, legal advice, etc.) 15 %
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Statistic Sources & References
Sources: Harvard Business Review, Cornell University, Conway Center
Content Author: Statistic Brain

Date research was conducted: September 6, 2016

Family Owned Business Statistics

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