Family Involvement in the Business

Family members most actively involved in the business are: spouses, 35.4% and sons, 35.0% with brothers a distant third, 8.8%. Least actively involved are daughters, 5.9% and sisters, 1.6%.

Not only are sons more actively involved in family businesses than daughters, they are also five times more likely to succeed the current CEO than daughters, 27.4% versus 5.3%.

Over half of family business owners, 58.4% do NOT require family members to have outside business experience before joining the business.