78% of All New Jobs in the US Created By Family Businesses

This Week's Business Stat Has Arrived To ensure you receive updates from Docstoc, please add messages@docstoc.com to your address book | Unsubscribe.   Stat of the Day   Family Owned Businesses Create 78% of New Jobs A recent survey demonstrated that family owned businesses drive the economy     Source: Family Enterprise USA (FEUSA) Share this article with your friends:       Who's Going to Take Over the Family Business? There are an estimated 5.5 million family owned businesses in the U.S., and about 40% of those businesses get passed on to the second generation of family members. But, that percentage drops significantly when it comes to the business staying within the family beyond that – only 13% and 3% of family owned businesses pass on to the third and fourth generations, respectively. About half of the owners of a family business (48%) would like for a family member to eventually take over, and when the business has 20 or more employees, that percentage increases to 62.5%. However, the reality is that only 36% think it is likely (23%) or very likely (13%) that a family member will actually take over. Only 7%* of operating businesses were inherited. The average life span of a family owned business is 24 years. Learn more family business stats >>   78% of Small Businesses Plan To Automate to Cut Costs 8 Major Mistakes Entrepreneurs will Make in 2013 69% of Small Business Owners Wish they Could Focus all their Attention on Actual Business         To ensure you continue to receive our e-mails please add messages@docstoc.com to your Address Book now. We send this email to members of docstoc.com per our Privacy Policy . You can manage your email preferences and other settings by going to Your Settings Page . If you have any questions you can e-mail or call us anytime by using our Contact Us page. You may unsubscribe from this mailing here: Unsubscribe. You can manage your email preferences in the notifications tab here: Preferences. *Disclaimer: Legal information is not legal advice. Read More. Docstoc.com , Inc. 409 Santa Monica Blvd., Ste 2A Santa Monica, CA 90401