A large proportion of family-owned businesses struggle to survive beyond the second or third generations. According to the Family Business Institute, only 30% last into a second generation. Only 12% remain viable into a third and a minuscule 3% continue into the fourth generation or beyond.
What have these 3% businesses and the family business owners done differently that is likely to have contributed to their resilience?
What can be learnt about the groups that have lived beyond 100?
C. Hoare & Co.
Founded 1672
Ricasoli
Founded 1141
Baroview & Toso
Founded 1295
James Lock & Co.
Founded 1642
“Longevity is not so much about emulating the practices of the most successful family-owned businesses, as it is about understanding the outcome of these practices and designing them along the pillars of the DREAM framework”: Professor Bhalla
Learn More about DREAM Framework and how it helps families build lasting businesses