5 Challenges for Family-Owned Businesses

YOUNGSTOWN, Ohio – Of the 28.8 million small businesses in the United States, 19% are family-owned. These businesses employ 60% of the U.S. workforce and generate 64% of America’s gross domestic product. These businesses face unique challenges. Here are five to consider, and what to do about them: Setting compensation and benefits Keeping things in the family can be a good thing, but paying the owner’s child for doing little work, no work, or bad work can create poor morale among

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