Over a 70-year lifespan, a family business creates an average of five new companies. With today’s technology, family entrepreneurial opportunities have no limits.

Are Family Businesses Thriving?

The European Family Business Monitor suggests that 71 percent of family firms are feeling confident or very confident in their business’s prospects for the next 12 months. Only two percent feel negative. Moreover, 57 percent report increased turnover over the past year, while 27 percent maintained revenues. So does being a family firm mean you’re more likely to succeed?

Top 10 Challenges Family-Owned Businesses Face

family businesses globally have unique challenges or problems that non-family enterprises do not normally face. If you are running a family business, or are planning to start one, it’s important that you know these challenges so that you devise strategies to handle them otherwise they will handle you.



Recommended Reads

Family Business books available on Amazon

Discover What Makes Family Businesses Beat the Odds and Thrive over Generations
40 leading venture capitalists come together to teach entrepreneurs how to succeed with their startup
Popp examines the Shaw family business to present a study of entrepreneurism that puts the family centre stage.
The great secret of our time is that there are still uncharted frontiers to explore and new inventions to create.
Most startups fail. But many of those failures are preventable.
The book begins with a probing and useful theory of social entrepreneurship, moving through history to illuminate what it is, how it works, and the nature of its role in modern society.
The premier guide to setting up and managing your business’s finances
To achieve unimaginable business success and financial wealth—to reach the upper echelons of entrepreneurs, where you’ll find Mark Zuckerberg of Facebook, Sara Blakely of Spanx, Mark Pincus of Zynga, Kevin Plank of Under Armour, and many others—you have to change the way you think.

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