About 90% of the businesses in the united states are organized as corporations.

Family Businesses Face Big Issues

• It is estimated that 40.3 percent of family business owners expect to retire, creating a significant transition of ownership in the US. Less than half of those expecting to retire in five years have selected a successor.29
• Nearly half of family business owners (43 percent) have no succession plan in place.30
• Even though nearly 70% of family businesses would like to pass their business on to the next generation, only 30% will actually be successful at transitioning to the next generation.31
• A majority of family businesses (60 percent) believe that their ethical standards are more stringent than those of competing firms. They also report ethical standards being discussed often or always at meetings with employees, in discussions with customers and during board meetings.32

Source References

1 Astrachan, J.H. and Shanker, M.C. (2003), Family Businesses Contribution to the U.S. Economy: A Closer Look. (http://coles.kennesaw.edu/centers/cox-family-enterprise/cox-family-documents/FB-in-US-2003.pdf).2 Ibid.3 Family-Owned Businesses Retrieved January 2019: (https://www.inc.com/encyclopedia/family-owned-businesses.html).4 Zellweger, Nason, Nordqvist. From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation. Retrieved November 2012: (http://c.ymcdn.com/sites/www.ffi.org/resource/resmgr/docs/goodman_study.pdf).5 U.S. Small Business Administration Firm Size Data. Retrieved February 2017: (https://www.sba.gov/advocacy/firm-size-data).6 US Department of Commerce, Bureau of the Census. Statistics for All U.S. Firms That Were Family-Owned by Industry, Gender, Ethnicity, Race, and Veteran Status for the U.S.: 2007 Survey of Business Owners. Retrieved November 2012: (http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=SBO200700CSCB04&prodType=table7 Greater Washington D.C. Family Business Alliance. Family Business Fun Facts. Retrieved November 2012: (http://www.dcfamilybusiness.com/resources/knowledge-base/family-business-fun-facts).8 Fallon, N. Focus on Family Is Key to Long-Term Family Business Success. 2014. Business News Daily. Retrieved June 2014: (http://www.businessnewsdaily.com/6567-managing-family-business.html).9 Zellweger, Nason, Nordqvist. From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation. Retrieved November 2012: (http://c.ymcdn.com/sites/www.ffi.org/resource/resmgr/docs/goodman_study.pdf).10 Family Business Alliance. Retrieved June 2014:(http://www.fbagr.org/index.php?option=com_content&view=article&id=117&Itemid=75) 10a Price Waterhouse Cooper. 11 Joseph Astrachan, Ph.D., editor, Family Business Review.12 Deutesche Bank Group. Wealth with Responsibility Study/2000. Retreived November 2012: (http://www.bc.edu/content/dam/files/research_sites/cwp/pdf/wwr.pdf).13Greater Washington D.C. Family Business Alliance. Family Business Fun Facts. Retrieved November 2012: (http://www.dcfamilybusiness.com/resources/knowledge-base/family-business-fun-facts).14 Kachaner, Stalk, Bloch. What You Can Learn From Family Business. Retrieved May 2015: (https://hbr.org/2012/11/what-you-can-learn-from-family-business).15 Zellweger, Nason, Nordqvist. From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation. Retrieved November 2012: (http://c.ymcdn.com/sites/www.ffi.org/resource/resmgr/docs/goodman_study.pdf).16 Walmart reports Q4 adjusted EPS of $1.49, Fiscal year 2016 adjusted EPS of $4.59. Retrieved February 2017 (http://news.walmart.com/news-achive/2016/02/18/walmart-reports-q4-adjusted-eps-of-149-fiscal-year-2016-adjusted-eps-of-459).17 Bundrick, H. M. Are Family-Owned Businesses on the Way Out? 2013. Retrieved June 2014: (http://www.learnvest.com/2013/07/are-family-owned-businesses-on-the-way-out).18 Anderson, R. C. and Reeb, D. M. (2003), Founding-Family Ownership and Firm Performance19 Fernandez-Araoz, Iqbal, Ritter. Leadership Lessons from Great Family Businesses. Retrieved May 2015: (https://hbr.org/2015/04/leadership-lessons-from-great-family-businesses).20 Fernandez-Araoz, Iqbal, Ritter. Leadership Lessons from Great Family Businesses. Retrieved May 2015: (https://hbr.org/2015/04/leadership-lessons-from-great-family-businesses).21 Ibid.22 The Economist. To Have and To Hold. Retrieved May 2015: (http://www.economist.com/news/special-report/21648171-far-declining-family-firms-will-remain-important-feature-global-capitalism).23 2016 Family Business Survey. Retrieved February 2017 :(http://www.pwc.com/gx/en/services/family-business/family-business-survey-2016.html).24 Mass Mutual American Family Business Survey, 2007. Retrieved November 2012: (http://www.massmutual.com/mmfg/pdf/afbs.pdf).25 Family Business Statistics. Gaebler. Retrieved February 2017: (http://www.gaebler.com/Family-Business-Statistics.htm).26 Allen, I. E. & Langowitz, N. S. Women in Family-Owned Businesses. Center for Women'ss Leadership at Babson College. 2003. Retrieved June 2014: (http://www.uvm.edu/business/vfbi/documents/2003Women-in-Family-Owned-Businesses.pdf).27 Ibid.28 Ibid.29 Mass Mutual American Family Business Survey, 2007. Retrieved November 2012: (http://www.massmutual.com/mmfg/pdf/afbs.pdf.)30 2016 Family Business Survey. Retrieved February 2017 :(http://www.pwc.com/gx/en/services/family-business/family-business-survey-2016.html).31 Peak Family Business Survey. 2011. Retrieved June 2014: (http://www.amserv.com/index.cfm/page/Family-Business-Statistics/pid/10715.html).32 Mass Mutual American Family Business Survey, 2007. Retrieved November 2012: (http://www.massmutual.com/mmfg/pdf/afbs.pdf).

Which type of business makes up only 7% of the American economy?

Which form of business makes up the largest percentage of businesses in the United States?

What is the major difference between corporations and all other kinds of businesses?

Is a corporation is a business that is legally separate and distinct from its owners?