November, 24 By Chandlee
A family-owned business is any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses may be the oldest form of business organization, and today they are recognized as important and distinct participants in the world economy.
More than 90 percent of the companies in North America and a majority of businesses located around the world are family-owned. Some of the more recognizable businesses still managed by family members include Benetton, Beretta, Estee Lauder Inc., Tootsie Roll, Playboy, Gucci, Carnival Cruise Lines, Harley-Davidson, Inc., U-Haul, Ford Models, Forbes Inc., and Ford Motor Co. They vary widely in regard to the overlap of family and business issues, and much can be learned from studying their experiences.
Family businesses will continue to play a greater and greater role in world economies into the next century. They will become more recognized as business organizations, and be studied and written about in increasing depth. Schools and colleges will recognize the family business as a career option of choice and provide direction and resources for students to pursue opportunities there.
It is these facts that point out the importance of family owned business in our communities. Build a relationship with a Family Owed Business in your area and compare the service with the Corporate Giants.
Very few of Atlanta’s Construction companies are family owned/operated businesses anymore; therefore supporting these companies is an important part of rebuilding the American Economy.