family owned business statistics

Family Owned Business Statistics


For best mobile viewing, turn your screen to landscape view.
Share This Data
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 %
PREV DATA SET

TAKE OUR SUPER FUN AND EXTREMELY SHORT CONSUMER BEHAVIOR POLL!
CONTRIBUTE TO STATISTIC BRAIN'S FREE ONLINE DATA SETS!
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

Demographics


Related Statistic Brain Research