April 14, 2022
According to research by Family Enterprise Foundation, younger generation owners are the most committed to preserving the family business. A survey found that “97 percent of next-generation respondents consider it important to sustain the family business, while only 74 percent of senior-generation respondents feel the same.” The importance placed on direct family leadership of the business is also higher for younger generations as 95 percent of younger respondents felt that family taking over is important, compared to only 65 percent of older generations. However, there are “significant differences in the level of importance assigned to these and other aspects of family business legacy, depending on the generation of respondents.”
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