Everyone in a family or closely held business has heard the terrifying 30/13/3 statistic. “Only 30% of family businesses make it to the second generation,” and so on”¦The press on many occasions even attributes it to us here at FBI (it’s not ours!). From where did this stat come? And is it – gulp! – true?

Please watch this week as Wayne digs into the statistic, explores its origin, and tries to ascertain whether it’s applicable to contractors in today’s world.

We’d like to have your thoughts; what do you think the “survival rate” is among family and/or closely held companies? Please share with us in the comments section below. Thank you!

A new Contractor Business Boot Camp class starts on Oct 21st, 2021 in Raleigh. Invest in your rising high-potential leaders and prepare them for the leadership skills they’ll need to excel. Please contact Charlotte at ckopp@familybusinessinstitute.com to learn more about the program.