Title

Myths and Realities: Family Businesses’ Contribution to the US Economy–A Framework for Assessing Family Business Statistics

Department

Management & Entrepreneurship

Document Type

Article

Publication Date

6-1996

Abstract

This article presents a framework for assessing commonly accepted family business statistics, based on the criteria used to define a family business. Using existing research from multiple fields and sources, a range is extrapolated for the total number of family businesses in the US, their contribution to Gross Domestic Product (GDP) and employment.