The success and survival of family businesses is fundamental to America's economy.
Family businesses generate about half the gross national product and half of the total wages paid.
Despite this, more than 80 percent of first generation family firms do not survive to the second generation and only 13 percent evolve to the third generation. This challenge is compounded by recent studies which reveal that within the next five years the leadership of more than 40 percent of the nation's family businesses will change outright or begin to shift to the next generation. While family business face the same challenges and management issues of all growth companies, they also must respond to and balance the different and often conflicting demands of family and business dynamics. The Rutgers Family Business Forum provides a unique arena for helping family businesses gain greater awareness and understanding of key strategies for building long-term strength and multigenerational business success. The Rutgers Family Business Forum is a community of family business peers and professionals committed to strengthening and enhancing the success of family firms in all industries.