difficulty

Five things that family businesses must do to survive hard times

May 26, 2021

The British royal family, like many family businesses, has had its share of difficulties lately. Prince Harry, previously viewed as one of the great modernising influences, has become more distant from the traditional business after marrying Meghan Markle.

Meanwhile, his father Prince Charles has been waiting many years to take over; his uncle, Prince Andrew, has been caught up in an international scandal; and to cap it all, the Queen recently lost her husband, Prince Philip, after 74 years of marriage.

No more advice please!

January 1, 2006

Family businesses have become the talk of the decade. Over 90% of businesses worldwide are family businesses, so we are told. Only 30% of family businesses make it through the second generation.

John Tucker is a Grant Thornton Fellow in Family Business at the International Centre for Families in Business.

Family businesses have become the talk of the decade. Over 90% of businesses worldwide are family businesses, so we are told. Only 30% of family businesses make it through the second generation. Less than 10% make it through the third. Who hasn't heard this overused and often misquoted statistic – or some other variation of it?