Well, it happens a lot more than you think. Although it may not be widespread knowledge, family businesses make up a majority of the companies we’re surrounded by on a daily basis. More specifically, 80-90% of all businesses in North America are family-owned, spanning from mom-and-pop stores to Fortune 500 corporations.* In addition, they generate 60% of employment in the US, and account for 50% of the country’s gross domestic product and 78% of new job creation.** I know, we were surprised too.
Over the past few years, we have been speaking with family businesses about their experiences, successes, and struggles with maintaining and expanding their businesses, while also juggling the added factor of working with family members. In collaboration with Molta Media, we are now looking to produce an interview-style program featuring different family business leaders, next generation leaders, and family business experts to showcase the complexity and gratification of working with family.
Family Business Now will give viewers an inside look at family businesses around the world. By sharing their unique stories, the show will provide both an educational and insightful perspective on the rarely seen but frequently traveled life within family business.
UPDATE: We’re currently in post production of our first few episodes. We’ve gotten some great stories and advice from families throughout Massachusetts and are looking forward to sharing the program with you! Here are some images so you can take a look at what we’ve been up to.
*Perman, Stacy. “Taking the Pulse of Family Business,” 2006. Bloomberg Businessweek. Retrieved May 2014: http://www.businessweek.com/stories/2006-02-13/taking-the-pulse-of-family-businessbusinessweek-business-news-stock-market-and-financial-advice **Astrachan, J. H. and Shanker, M. C. (2003), Family Businesses’ Contribution to the U.S. Economy: A Closer Look. Family Business Review, 16: 211–219. Retrieved May 2014: http://onlinelibrary.wiley.com/doi/10.1111/j.1741-6248.2003.tb00015.x