[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Drive Reform: Advocate for Change by Pressing Your Representatives to Stop Detrimental Policies and Excessive Regulation!” button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/contact-your-representatives-in-congress-to-join-the-congressional-family-business-caucus-now\/” button_text=”Click Here Now” admin_label=”Call To Action Top” _builder_version=”4.23.1″ _module_preset=”default” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_padding=”14px||17px|||” global_module=”9672″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.23.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
\u00a0<\/strong><\/p>\n \u00a0<\/strong><\/p>\n Consumers may be suffering through record heat this summer, but family businesses are feeling good about their business prospects, according to a study of family businesses across America.<\/p>\n The study of 571 family businesses<\/a> or family business offices from across the country, by Family Enterprise USA, details the top business risks and growth prospects of large and small multi-generational family businesses face for the remainder of this year and into 2024.<\/p>\n With the year more than half complete, nearly two-thirds of family businesses, or 65 percent, expect to see their business grow this year, while only 18 precent expect business to be worse than last year, the study found. Family Enterprise USA is a non-profit organization promoting and advocating in Congress for all generationally-owned family businesses.<\/p>\n Last year, family businesses were worried about economic conditions post-COVID and with rampant inflation, the study showed. This year, and looking at 2024, the biggest impediments to growth are the cost and availability of labor, with 31 percent of family businesses citing this issue.<\/p>\n The second worry impacting growth was general market conditions (30 percent). Inflation, a big concern going into this year, ranked third, with only 15 percent of business worried about its impact on growth prospects.<\/p>\n \u201cThis report shows once again the resiliency of our country\u2019s family businesses,\u201d said Pat Soldano, President, Family Enterprise USA. \u201cFamily businesses continue to grow at a fast rate and across the board they are optimistic about the prospects for growth for the remainder of this year and into next,\u201d Soldano said.\u00a0 \u201cFamily businesses keep jobs, add jobs, pay better than average wages, and give back to their communities, all of which are strong arguments to keep our family businesses thriving.\u201d<\/p>\n Last year, the study found, 52 percent of family businesses grew by 10 percent or more, with 21 percent growing more than 20 percent over the calendar year.<\/p>\n The survey assessed a cross section of America\u2019s multi-generational family-owned industries, which contribute $7.7 trillion annually to the U.S. gross domestic product. In addition, family businesses account for 83.3 million jobs, or 59 percent of the country\u2019s private workforce, according to research.<\/p>\n In the study, taxes and tax policies were found as the biggest challenges, with 50 percent of respondents saying high personal income taxes were the number one concern, up from 45 percent a year ago, a 10 percent jump.<\/p>\n Some 19 percent of the respondents said the \u201cmost important\u201d tax issue<\/a> was to reduce personal income taxes, while 18 percent said reducing the Estate Tax<\/a>, or The Death Tax, was also priority. When it came to changing the Estate Tax provision, 33 percent thought it important to keep it \u201cas is,\u201d while 24 percent said this a year ago.<\/p>\n \u201cFew people in Congress understand that our tax policies favor corporations while hurting the majority of family businesses,\u201d said Soldano. \u201cWhat came out in this year\u2019s survey is a clear pushback on our personal and high business tax rates, but also the strain of high personal taxes on workers,\u201d Soldano said. \u201cOur largest private employer is saying \u2018high personal taxation is putting strain on our workers, and our productivity.\u2019\u201d<\/p>\n The Family Enterprise USA Annual Family Business Survey 2023 is sponsored are Squire Patton Boggs and Brownstein, both leading law and lobby firms advocating for family businesses.<\/p>\n For the full details of the new \u201cFamily Enterprise USA Annual Family Business Survey 2023\u201d can be found at www.familyenterprise.com<\/a>.<\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> 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<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”off|off|off” admin_label=”Video Slider Family Business Stories 1″ _builder_version=”4.19.1″ _module_preset=”default” global_module=”5963″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=3k9d1tFz5AU&t=22s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=kG0lDKbmJxg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=HFK8SG1VSco” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Z15BqbFOYck” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=PL3K3rK7ioA&t=5s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=CpXRbRBhPKc” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.21.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Growth Continues High for Family Businesses Despite Worries of Inflation, Labor, and Recession, Study Shows \u00a0 Family Enterprise USA Report Reveals 2023 Growth Is Running High for Multi-Generational Family Businesses in Face of Economic Uncertainties \u00a0 Consumers may be suffering through record heat this summer, but family businesses are feeling good about their business prospects, […]<\/p>\n","protected":false},"author":2,"featured_media":9983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[51,48,3,92,78],"tags":[],"class_list":["post-9982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-business-survey","category-family-businesses","category-feusa","category-multi-generational-business","category-in-the-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9982"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9982\/revisions"}],"predecessor-version":[{"id":9988,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9982\/revisions\/9988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/9983"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Family Enterprise USA Report Reveals 2023 Growth Is Running High for Multi-Generational Family Businesses in Face of Economic Uncertainties <\/em><\/h3>\n
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