Taking the Pulse of Family Business

From behemoths such as Ford to mom-and-pop shops, they share a set of common challenges in today's business climate

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Family-owned businesses continue to form the backbone of the American economy. Consider the following statistics reported by the University of Southern Maine's Institute for Family-Owned Business: Some 35% of Fortune 500 companies are family-controlled. Family businesses account for 50% of U.S. gross domestic product. They generate 60% of the country's employment and 78% of all new job creation.

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