How Technology Can Help a Family Business Evolve into the Second Generation & Beyond
Family businesses have been the backbone of society for centuries, providing stability and continuity through difficult times. According to Cornell University, the average life span of a family-owned business is 24 years (familybusinesscenter.com, 2010). About 40% of U.S. family-owned businesses transition into a second-generation, approximately 13% are passed down successfully to a third generation, while…