It is an understatement to say that family businesses are the backbone of the American economy.
Some 90 percent of all businesses in this country are either family-owned or family-controlled. They come in all shapes, sizes and colors, representing all sectors of our economy. From agriculture to services, technology and manufacturing, family businesses generate an estimated one-half of the U.S. Gross National Product and pay half of all wages earned in this country. And about one-third of all businesses in the Fortune 500 are family businesses.
But not all of the family business statistics are rosy. Family businesses don’t tend to outlive their founders. At any given moment, 40 percent of family businesses are in the process of transferring their ownership. Unfortunately, two-thirds of all initial transfers fail. Of the one-third that survives an initial transfer, only one-half will survive a second transfer.
Call our office at 402-915-0097 to learn more about how we can help you successfully transfer your business today.