The Family Business - Three Family Run Businesses Inner workings

13901 Glen Mill Rd,Rockville MD 20850

17 March, 2022

Description

Family Run Businesses The Family Business Insiders ViewFamily-owned businesses, more than 32 million strong, are the backbone of the U.S. economy. According to a February 2021 research report, family businesses employ over 83 million people in the U.S., and account for 54 percent of total private sector GDP. The survival and growth of these family firms is critical for our country’s economic recovery in 2021 and beyond. But that survival is by no means guaranteed. Eighty-one percent of family firm owners surveyed by Family Enterprise USA reported suffering financially during the pandemic. This financial hit may intensify the challenges of succession planning and transition that all family companies face. Historically, 30 percent of family-owned companies shut down during the transfer of ownership and management from founders to the second generation. Even if that first transition between generations succeeds, the majority of family firms do not survive beyond the second generation of owners. A Baby Boomer bulge in the number of family business owners currently over 65, combined with a lack of interest among younger family members, will bring even more pressure on planning for a smooth succession between generations. Platinum SponsorsClick to learn more about each SponsorAtigroSHS ServicesShulman RogersCEO Focus Mastermind GroupsAnalytic Design powered by Mosaic Data Services (ADMDS) About the National Association of Business Owners & EntrepreneursNABOE is an association of business owners and leaders who have in common their desire to learn, grow and better themselves and their organizations. NABOE serves its members by bringing thought leaders, contemporaries and vetted resources together in high-end, respectful educational settings. NABOE offers presentations helping leaders change and direct their companies grounded in science based programs and solutions. Please note: We respect the privacy of the individuals who attend our programs and have a strict "no solicitation" policy. See below: Relaxed NetworkingTM: We pride ourselves on having relaxed networking events where our C level participants feel comfortable. Programs offered by the National Association of Business Owners & Entrepreneurs have a strict, no solicitation rule. Violations of this no-solicitation rule are immediately removed from our membership rolls and will not be allowed to attend future events. It is up to the discretion of the Membership Committee if an individual will be reinstated. Most people struggle with generating new business for their companies. At NABOE, we bring together trusted business executives and owners to help generate more business with less effort so that you can celebrate hitting your sales and Revenue Goals each and every year.NABOE now offers CEO Focus Training exclusively for Business Owners. Look for upcoming events, workshops and informational videos. CLICK HERE for additional information.