Family Businesses in the United States
Family Businesses in the
- US3,001,060 of US JOBS (1)
- $1.7 Trillion of combined revenue (1)
- In the US, family firms generate 64% of GDP & account for 65% of domestic employment
- 78% of new job creation stems from family owned firms
- 35% of Fortune 500 companies are family-owned or controlled
- Family firms have higher employee retention rates than non-family firms
- 60% of family firms have women in top management positions
- 24% of family firms are led by a female CEO or President
Giving by Families; 2017
- Individuals comprised 72% of giving; Corporation’s comprise 5% of giving (2)
- IRS Statistics of Income (SOI) data indicates that from 2003 to 2013 itemized contributions grew 40% for households with income of $100,000 or more, with the greatest increase of 104% in households with incomes of $10 million or more (2)
- Charitable deductions for households earning less than $100,000 decreased 34% in the same time period (2)
(1) FEUSA; Research of 180 Privately owned businesses March 2018; (2) 2017 Giving USA