According to the Small Business Administration, 90 percent of small businesses are family-owned, yet at any give time, 40 percent are at risk of failing. Even big, wealthy family-owned firms have trouble carrying on. Only 15 percent of businesses with interests valued at at least $300 million succeed past the second generation, according to a study by Prince & Associates, Inc. and Campden Research.
– 6 Ways This Family Business Has Survived Since the Civil War (American Express OPEN Forum)
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