If you own a family business, you most likely have heard a scary statistic reported as fact: Only 30% of family businesses make it to the second generation, many consultants will tell you, and just 13% make it to the third.
That statistic — from research conducted nearly 30 years ago, based on companies from only one industry in one U.S. state — has been misquoted and misinterpreted, writes Robert Holton from Cleary Gull in the May/June issue of
Family Business
Magazine.
“To suggest these results can be extrapolated for all family-owned business, in all industries, in all geographies and in all economic times is a stretch,” Holton points out.
Read Holton’s article
here.
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