Benchmark: Sources of Conflict in Family Businesses
No wonder so few family businesses make it to the third generation. A recent survey of 1,002 family-business owners revealed that the potential for conflict increases significantly as family businesses age.
The hottest issues of contention for first-, second-, and third-generation businesses were as follows:
|First generation||Second generation||Third generation|
|Ownership or control||10%||19%||27%|
Source: Massachusetts Mutual Life Insurance Co. telephone survey, Springfield, Mass., 1994.* * *
DONNA FENN | Inc.com Contributing Editor
Donna Fenn is the author of Upstarts! How GenY Entrepreneurs Are Rocking the World of Business and 8 Ways You Can Profit From Their Success, an exploration of the ways Gen Y is changing the entrepreneurial landscape.