Who is Minding the Family Business?

Family owned businesses in Canada and the United States have comprised a major portion of the job market and economy for decades. What does the future hold for North American family owned businesses? As the population ages and the beginning phase of a large population of Northern Americans begins to retire, what will the face of the future business economy look like? Family business succession planning is essential to the employment market and economy of both Canada and the United States. The next two decades will see many North American family owned businesses being listed for sale or passed along to family members to run the family operation. All too often we hear reports on the decline of a family owned business once it has been passed on to the children. Sometime View the rest of this article