Financial Education Center

Misconceptions of Family-Owned Businesses

If small businesses are credited as the engine of the U.S. economy, family-owned businesses generate the power. According to the U.S. Census Bureau, approximately 90 percent of American businesses are family-owned or controlled.

Family Businesses and Growth: Four Pitfalls of Growing Too Fast

Growth is critical for businesses that want to gain traction and become a dominant business in their industry. For family-owned businesses focused on longevity and multi-generational leadership, recognizing the warning signs and handling them appropriately can help ensure healthy growth in the future.

What Legacy Will Your Family Business Leave?

For family businesses, legacy can mean the succession of business and family assets from one generation to the next. In fact, Merriam-Webster defines “legacy” as: a gift by will, especially of money or other personal property, and/or something transmitted by or received from an ancestor or predecessor or from the past.