Many roofing companies are family-owned businesses that consist
of family members working side by side. Often, children drop
everything to help when their family business is in trouble or take
over a business when a parent retires.
But the common presence of family-owned businesses is not unique
to the roofing industry. Although the definition of family-owned
business varies, the Family Firm Institute (FFI), Boston, released
statistics in October 2003 showing family-owned businesses
constitute 60 percent of all employment in the United States, 78
percent of new job creation and more than half the gross domestic
However, family-owned businesses' survival rates are not
encouraging. According to FFI, a mere 30 percent of family-owned
businesses survive into the second generation; 12 percent survive
into the third generation; and only 3 percent survive into the
For your family-owned business to succeed, it is important you
learn how to handle the unique business issues...
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