2021 Annual Family Business Survey Does your family own or manage an operating family business?Yes – Sole ownerYes – Majority ownerYes – Minority ownerYes – Manager, non-ownerNoDo you work with family businesses?YesNoare you a;Family Business ConsultantFamily Business Advisor, Attorney or AccountantFamily Business Valuation FirmDo you believe that family businesses are an important part of the US Economy?YesNoDo you believe that family businesses should have the same tax and economic rules as nonfamily businesses?YesNoWhat is your role in the family business?CEO/PresidentVice-President or Other C-Suite ExecutiveBoard ChairBoard DirectorRetiredWhich of the following best describes the principal industry of your family business?Advertising & MarketingAgricultureAirlines & Aerospace (Including Defense)AutomotiveBusiness Support & LogisticsConstruction, Machinery, & HomesEducationEntertainment & LeisureFinance & Financial ServicesFood & BeveragesHealthcare & PharmaceuticalsInsuranceManufacturingRetail & Consumer DurablesReal EstateTelecommunications, Technology, Internet & ElectronicsTransportation & DeliveryUtilities, Energy & ExtractionWhat generation is the OWNERSHIP of your family business?G1G2G3G4G5+Which generations are active in the MANAGEMENT of the family business? Select all that apply.G1G2G3G4G5+How many years has your family business been in operation?Less than 10 years10 to less than 20 years20 to less than 30 years30 to less than 50 years50 to less than 100 years100 years or moreHave you passed ownership of the business on to the next generation?YesNoSelect all that apply Partial ownership Full ownership Controlling ownership Non-controlling ownership What strategy did you use to pass ownership of your business? Select all that apply. Select All Gift Sale Loan Funds Do you think that passing ownership on to the next generation is important to the sustainability of your business over generations and the creation of more jobs?YesNoPlease share the reasons you have not passed ownership of the business.Do you consider your family business to be part of your children’s legacy?YesNoThinking about all of the contributions you or your family business make to charities (monetary donations or volunteering time), what percentage goes to local charities versus national?Local charity or local chapter of a national organization%National charity or organization%National charity or organization%N/A – do not donate money nor time to charities N/A – do not donate money nor time to charities What percent of your annual revenue do you donate -------%?How have you managed the business during the pandemic? Select All Kept people employed Reduced workforce Supported families, heath care workers, employees, local charities, etc. Reduced business costs Closed the business Changed product or service line Stopped distributions to shareholders Protected employees with remote working Other Select all that apply How many people did your firm employ in the US, (as employees or contract labor, either part-time or full-time) as of 12/31/2020?1 - 5051 - 100101 - 500501 - 1,0001,001 - 2,0002,001 - 3,0003,001 - 4,0004,001 - 5,0005,001 - 10,00010,001 - 20,000More than 20,000 employeesHow many net US jobs did you ADD or LOSE in 2020AddLose1 - 5051 - 100101 - 500501 - 1,0001,001 - 5,0005,001 - 10,00010,001 - 50,000More than 50,000 employeesHow would you measure the salary and benefits that you pay your employees as compared to your non-family business competition?Above averageAverageBelow averageDon't knowWhat were the gross US revenues of your business in 2020?$0 up to $1 million$1 to $5 million$6 to $10 million$11 to $15 million$16 to $20 million$21 to $50 millionOver $50 millionWhat are the estimated gross US revenues for 2021?$0 up to $1 million$1 to $5 million$6 to $10 million$11 to $15 million$16 to $20 million$21 to $50 millionOver $50 millionDid your business’ revenue grow or decline in 2020?GrowDeclineBy what percentage:More than 20%Between 10 and 20%Between 5 and 10%Less than 5%Why did your business’ revenue grow or decline in 2020? Select All Economic conditions Industry conditions Strategic business choices Government regulation Capital investments into business Trade Regulation Labor Market/Staff Shortages Coronavirus Do you expect your business’ revenue to grow or decline in 2021?GrowDeclineWhere would that come from? Select All Economic conditions Industry conditions Strategic business choices Regulatory reform Capital investment into the business Trade regulation Coronavirus Other N/A What is the top business risk to the success of your business?Recession or market downturnInflationGovernment regulationIndustry competitionTechnological changesCybersecurityConsumer demandHealthcare costsCost of laborCoronavirusWhat will be the greatest impediment to your business growth in 2021/2022?Access to capitalGovernment regulationTaxesIndustry competitionMarket conditionsTrade regulationCoronavirusRecruiting and talent retentionOtherHas planning for the estate taxes affected your ability to add jobs?YesNoIf yes, estimate the annual number of jobs lost or not hiredIf yes, estimate the annual cost of insurance to pay estate taxesIf yes, estimate other annual costs incurred to plan for estate taxes (i.e. attorney fees, accounting fees, etc.)If yes, can you estimate the amount of time you and your staff spend annually planning for estate taxes?0-10%11-20%21-30%More than 30%If yes, what would you like lawmakers to know about the impact of estate taxes on your business?24. Please rank in order the following TAX POLICIES based on your level of concern. Drag and drop each item with the one you are most concerned with at the top (Rank 1) and that of the least concern at the bottom (Rank 8).IncomeCapital gainsEstate taxesSales, service or excise taxPayroll taxesEnergy taxesTrade taxesOtherWould you support any of the ESTATE TAX PROVISIONS below? Rate in order of preference 1 to 5;Make the current level of lifetime exemption permanent and not expire in 2025Reduce the rate of estate tax from 40% to that of a capital gains tax rate.Increase the lifetime exemption from current levelRepeal the estate taxIncrease the estate taxNone of the abovePlease rate the following economic public policy priorities in terms of their importance to you and your family business:12345Reducing the federal budget deficit and national debtSimplifying the tax codeReducing or eliminating estate taxesReducing regulationsReducing capital gains taxesReducing income taxesFederal trade policiesHow do you identify yourself politically?RepublicanDemocratIndependentPlease list the city and state in which you reside so we know the geographic distribution of respondents; City State / Province / Region Would you allow FEUSA to contact you to discuss your survey answers?YesNoOptional : If you are interested in learning more about FEUSA or would like to be added to our email list please provide below.NameEmail CompanyAddressCityStatePostal CodeCell Number
