Mainebiz

W W W. M A I N E B I Z . B I Z 15 N OV E M B E R 3 , 2 0 2 5 F O C U S 81% of family businesses have been in operation for 20 years or more. 47% employ 51 workers or more. 21% of family businesses grew by more than 10% last year 33% of family-owned businesses surveyed recorded up to $5 million in gross revenue in 2024 28% had revenue above $50 million 82.7% are sole or majority owners 80.3% are pass-through entities 57.5% are S Corporations 30.8% have passed full or controlling ownership on to the next generation 66.6% of next-generation family members work in the family business 70.9% have majority ownership from first and second generations FA M I LY O W N E D B U S I N E S S Family-owned firms span a range of industries and ownership structures Maine's economy is rooted in small businesses, many of which are family-owned. The Portland-based Institute for Family-Owned Business estimates that family- owned businesses make up 80% of Maine businesses, which is roughly on par with numbers nationwide. Each year, Family Enterprise USA, a Washington, D.C.- based advocacy group, conducts a survey on the state of family businesses in America. This year's survey, among the latest and most comprehensive to date, was based on answers from 730 respondents across 45 states. S O U R C E : Family Enterprise USA 2025 Annual Family Business Survey SIZE AND SCOPE TOP 3 INDUSTRY CATEGORIES OWNERSHIP STRUCTURES Mfg. operations Construction/facilities Real estate 25.9% 12.4% 5.8%

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