Family businesses are a vital part of the American economy, serving as a cornerstone of private employment, comprising nearly 60% of the workforce.
Despite facing challenges such as inflation, tax policies, and pandemics, family businesses have shown remarkable resilience. They continue to thrive, expand, and create jobs, serving as a significant force in the economy. This survey aims to explore the resiliency of family businesses in the face of various challenges and shed light on their strategies for success. By understanding the factors that contribute to their resilience, we can gain valuable insights into the dynamics of family businesses and their role in the economy.
Family Business Magazine recently published an article written by Pat Soldano, President, Family Enterprise USA where she details key points of the 2023 Family Business Annual Survey and the resiliency of family businesses.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes family business and job creation, growth, and sustainability by advocating for family businesses, their lifetime of savings, and the issues they face running their businesses every day. Some of the issues we fight for or against with Congress in Washington DC are high Income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift, estate taxes and generation skipping taxes. Family Enterprise USA represents and celebrates all sizes and industries of family businesses and multi-generational employers.
Family Enterprise USA (FEUSA) is a 501(c)(3) non-profit organization. Family foundations can donate.
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