That is a staggering statisctic "80 percent to 90 percent of all business enterprises in North America are family firms." It makes you wonder if in order to succeed in business you absolutely need to run your business as a family firm.
What's your view?
All in the family Many state firms run by father, child - • 80 percent to 90 percent of all business enterprises in North America are family firms.
• 35 percent of Fortune 500 companies are family-controlled.
• More than 30 percent of all family- owned firms survive to the second generation.
• Family businesses account for 50 percent of U.S. gross domestic product.
• Family firms generate 60 percent of country's employment, create 78 percent of new jobs.