It's been said that there's no business like show business. Although I have no doubt that Hollywood is in a league of its own, my experience is that there's no business like family-owned business, and there are 32.4 million family-owned businesses in the United States as validation.
Family-owned businesses are the engine of the American economy, generating 78% of new job creation and accounts for $80 million jobs, according to research by Family Enterprise USA. Studies have also shown that approximately 35% of Fortune 500 companies are family-controlled. In fact, the greatest part of our country's wealth lies with family-owned businesses; contributing 54% of the private sector GDP, or $7.7 trillion dollars.
