As a family business owner, you are the backbone of our economy and communities...
As a family business owner, you understand your commitment to the community, to your employees and to your family. Your contributions are part of a greater network of family businesses that form the backbone of our nation’s communities, and together are the lifeblood of the American economy. Unfortunately, our country’s elected officials and opinion leaders do not have a clear understanding of what it means to be a family business; nor are they aware of the tremendous impact family businesses have on our economy and the challenges a family faces in order to sustain its business long-term.
Family Enterprise USA (FEUSA) highlights the positive contributions made by business-owning families like yours, draws attention to the challenges you face due to public (mis)perceptions and public policies, and unites business-owning families so you may act collectively. While there are many issues that impact your ability to successfully transfer and grow your business from one generation to the next, FEUSA focuses on key public perception and public policies that inhibit your continuity.
Here is a look at how your voice could be amplified as part of the greater family business community. There are 5.5 million family-owned businesses in the United States. Family businesses generate 64% of the GDP in the United States and employ 62% of the U.S. workforce. 35% of Fortune 500 companies and 60% of all publicly-held U.S. companies are family-controlled. These are impressive numbers to say the least. In addition, 75% of all new (net) jobs are generated by family businesses, and research shows they tend to downsize less than non-family businesses.
These employment figures, attached to their extraordinary philanthropic efforts (FEUSA’s annual survey showed 95% of all respondents engaged in some sort of philanthropic effort), truly make family businesses the cornerstones of their communities and an integral part of our nation’s foundation.