A PRIME Insurance Special

The 7 Powerful Dynamics in US Family Businesses

1. Family businesses make up 80 to 90 percent of all US commercial establishments.
   
   
2. More than half of the US Gross National Product comes from family-owned businesses.
   
   
3. Approximately 1/3 of the nation’s family businesses incorporate husband/wife team players.
   
   
4. Approximately forty percent of family businesses in the US become 2^nd generation companies; thirteen percent evolve into 3^rd generation enterprises; while only three percent of family businesses advance into 4^th generation businesses and so on.

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     5. Women are key partners to family businesses, with 24% of females leading in CEO roles.

     6. Family businesses tend to bond with the local community, while placing an underscored focus on family life.

    7. Most family-run businesses involve themselves in charitable works and a variety of philanthropy involvement.

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Summary:  Explore the meaning of family run businesses and why so many of them are successful - through the eyes of the award-winning insurance agency that knows what it’s all about.