Facts About Family Business
- Family businesses enjoy a success rate far greater than for other kinds of businesses.
- In the U.S., family businesses provide 65% of all wages.
- In Pennsylvania, family businesses form the backbone of most local economies.
- Family businesses possess ingredients for tremendous success - a common purpose, shared values and a tolerance for risk.
- There are 1.2 million husband and wife teams running companies.
- The number of family businesses run by women has grown 37% in the past five years with an average annual revenue of $26.9 million last year.
- Family firms typically outperform non-family firms.
- Return On Assets is greater in family businesses, with a 6.65% greater return than non-family firms.