✉news BusinessBusiness first seen 10 h ago, last 7 h ago, peak #9
Family businesses drive US economy but face succession crisis
Original: Family businesses power the US economy, but succession poses a major challenge
Family-owned firms remain a backbone of the American economy, employing millions and contributing significantly to GDP, but many now face a major challenge: succession. As founders age, transferring leadership and ownership to the next generation is proving difficult, raising concerns about the survival of these businesses and the broader economic impact if they fail to plan ahead.
Why now: A wave of aging business founders is reaching retirement age, putting succession planning in the spotlight.
US economyfamily businessesFox Business
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