CityBusiness: Family-owned businesses should capitalize on their distinct advantages
Rosalind Butler, assistant director of the Tulane Family Business Center, a program of the Freeman School's Albert Lepage Center for Entrepreneurship and Innovation, contributed an op-ed to New Orleans CityBusiness about the unique challenges of running a family-owned business.
According to Family Business Magazine, family-owned businesses play a large role in the global economy, contributing up to 90% of gross domestic product worldwide and creating 78% of jobs, yet less than 15% survive to the third generation. That survival rate could be improved if those businesses could provide guidelines or policies governing family dynamics and establish clear succession plans that allow for growth and leadership opportunities for future generations.
To read the article in its entirety, visit neworleanscitybusiness.com: