Mainebiz

W W W. M A I N E B I Z . B I Z 15 J U N E 2 8 , 2 0 2 1 F O C U S FA M I LY- O W N E D B U S I N E S S Improving individual and business performance since 1912 Whether you're searching for the confidence needed to embark on a new venture or for the strength to enact change in your community, we offer proven tools to help you make an impact. Dale Carnegie is the industry leader and a true benchmark in professional training and development solutions. Dale Carnegie provides training solutions to leading businesses throughout Maine It's time to Take Command. " Clark Insurance's strong growth is supported by what our people are learning in Dale Carnegie classes. " — Jeff Shaw ROB AND NADRA EDGERLEY, OF DALE CARNEGIE MAINE (207) 775 -DALE maine.dalecarnegie.com A family-owned business f 28.8 million small businesses in America, 19% are owned by families, according to SCORE. That can mean two family members or generations of family members. While they create jobs and are a significant part of the U.S. economy, family businesses face a range of challenges and making the transition from one generation to another is not a sure thing. F O C U S S TA R T S O N F O L L OW I N G PA G E » O S O U R C E : Conway Center for Family Business S O U R C E : SCORE WOMEN ARE A MAJOR PART OF FAMILY-OWNED BUSINESSES SOME STATS ON FAMILY BUSINESSES, PLUS THE CHALLENGES Family-owned businesses employ 60% of the U.S. workforce and create 78% of all new jobs. Family businesses generate 64% of the U.S. GDP. 30% of family businesses survive the transition from the first to second generation. Only 12% survive the transition from the second to third generation. Only 13% of family businesses remain in the family after 60 years. 47% of family business owners expecting to retire do not have a successor. 24% of family businesses are led by a female CEO or president. 31.3% of family businesses surveyed indicate that the next successor is a female. Nearly 60% of all family-owned businesses have women in top management team positions. Over the past five years, woman-owned family businesses have increased by 37%. Women-owned family firms are typically 10 years younger than male-owned firms and more are first-generation businesses. Women-owned family firms experience greater family loyalty to the business, agreement with its goals, and pride in the business. Woman-owned family firms have a 40% lower rate of family member attrition in the business.

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