Small Business Pulse Survey: Family Business

SMALL Business Pulse %24 Survey FAMILY BUSINESS THE ALTERNATIVE BOARD The Business Owner's Strategic Advantage 56% of Small Business Owners are either unhappy with or have NO succession plan of Small Business 62% Owners say it's unlikely the business will stay in the family Most Family Businesses are first generation, and most expect the business to leave the family at the owner's retirement 42% 45% 91% of Business Owners say non-family members are of Business Owners say their children are directly involved in of Business Owners support having their family involved in the business more qualified in their the business positions 1st Gen (48%) 2nd Gen (40%) 3rd Gen (12%) of all Business 29% 59% Owners reported an INCREASE in profits of Family Business Owners are concerned about employee talent in 2013 35% Compared to of Non-Family Business Owners of all Business of Family Businesses have at least ONE additional family member involved 73% Owners believe their profits will INCREASE this year 80%