There are often a number of statistics that are thrown around regarding the percentage of family enterprises that survive beyond the first, seconds and third generation.
These are often not contextualised with the survival rate of non family businesses and so these statistics are distorted, albeit they make good marketing fodder!
As the way in which the world works, communicates and does business changes, there are huge opportunities for family enterprises to succeed and this article pretty much nails the reasons why the 21st Century will belong to family businesses!
Much has been written about values-based cultures, but families are the primary carrier of values, and business families can weave their values into the very fiber of the organizational culture. Our experience has shown that because employees work directly with the owners, there is often a pronounced loyalty effect, which augments the important sense of mission.