Family Business 70% Fail : Here's Why

Updated: Apr 27

Today, nearly 90% of all business in the United States is either family owned or controlled. And over 70% of family owned businesses fail often due to debt problems according to

Among the top issues that result in family business failure includes;

- Employing family members over generations that are unable to grow the business due to poor training, lack of interest and professional qualifications

- Heavy debt burdens developed over generations can destroy the family business

- Family loyalty being stuck in the past, a vision that's no longer profitable

- Resistance to new leadership and perspectives in order to achieve better ROI assists families and business owners with the following;

  • A clear goal and vision to leverage knowledge, people and skills ...

  • A business succession plan ... marketing, raise capital, create partnerships and more

  • Recruiting new talent to add more progressive management ...

  • Proper governance structure which benefits family members ...

  • Diversification plan towards business growth ...

Improve Your Business Get Started Now Call 615-802-8122 email

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