Family Businesses – Jobs, Economic Activity and Charity

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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

Policy and Taxation Group, a 501(c)(4) organization, is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.