{"id":121,"date":"2016-02-12T03:43:10","date_gmt":"2016-02-12T03:43:10","guid":{"rendered":"http:\/\/blogs.isb.edu\/centre-for-family-enterprise\/?p=121"},"modified":"2025-12-31T09:44:40","modified_gmt":"2025-12-31T09:44:40","slug":"lack-of-succession-plans-in-us-family-businesses","status":"publish","type":"post","link":"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/","title":{"rendered":"Lack Of Succession Plans In US Family Businesses"},"content":{"rendered":"<p>As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. However, majority of those businesses have not yet identified the new leader (58%), but most (52%) believe the next leader will be a family member. Among the greatest hurdles in succession planning are generational differences and simply finding the time for this activity. The study also found that family businesses are now more confident in their ability to continue and\/or expand. Businesses with 11\u201350 employees had the highest confidence rating, while those with fewer employees had the lowest.<\/p>\n<p>The survey was conducted by Pacific Family Business Institute (PFBI) covering 200 family businesses in Oregon and Washington to gain insights into leadership and business characteristics. The survey participants had an average of 46 years in business. Sixty-five percent of the businesses reported annual revenue greater than $5 million, and five percent reported revenue of at least $75 million. Half of the businesses surveyed, were owned by first-generation family members, while nearly as many were owned by second-generation and about two-fifths were owned by the third generation or beyond. Most businesses had a CEO who is a family member (94%), generally either first-generation (39%) or second-generation (35%), and who owns a controlling interest (71%), and this is particularly true for newer businesses. <b><\/b><\/p>\n<p><i>Source: http:\/\/static1.squarespace.com\/static\/5243f03ce4b0fe7d0ab4b0be\/t\/56538310e4b0366ccd867568\/1448313616035\/PFBI_2015_survey.pdf<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. However, majority of those businesses have not yet identified the new leader (58%), but most (52%) believe the next leader will be a family member. Among [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lack Of Succession Plans In US Family Businesses - Thomas Schmidheiny Centre for Family Enterprise<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lack Of Succession Plans In US Family Businesses - Thomas Schmidheiny Centre for Family Enterprise\" \/>\n<meta property=\"og:description\" content=\"As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. However, majority of those businesses have not yet identified the new leader (58%), but most (52%) believe the next leader will be a family member. Among [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Thomas Schmidheiny Centre for Family Enterprise\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-12T03:43:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-31T09:44:40+00:00\" \/>\n<meta name=\"author\" content=\"Editorial team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editorial team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/\",\"url\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/\",\"name\":\"Lack Of Succession Plans In US Family Businesses - Thomas Schmidheiny Centre for Family Enterprise\",\"isPartOf\":{\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/#website\"},\"datePublished\":\"2016-02-12T03:43:10+00:00\",\"dateModified\":\"2025-12-31T09:44:40+00:00\",\"author\":{\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/#\/schema\/person\/36b0b1fce0228ee6b0380926861571cc\"},\"breadcrumb\":{\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lack Of Succession Plans In US Family Businesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/#website\",\"url\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/\",\"name\":\"Thomas Schmidheiny Centre for Family Enterprise\",\"description\":\"Creating value for families and businesses through research and innovation\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/#\/schema\/person\/36b0b1fce0228ee6b0380926861571cc\",\"name\":\"Editorial team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/20fb226145337a9ce5d93494a13b2d55?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/20fb226145337a9ce5d93494a13b2d55?s=96&d=mm&r=g\",\"caption\":\"Editorial team\"},\"sameAs\":[\"https:\/\/blogs.isb.edu\"],\"url\":\"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/author\/isb_blog_user_admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lack Of Succession Plans In US Family Businesses - Thomas Schmidheiny Centre for Family Enterprise","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blogs.isb.edu\/centre-for-family-enterprise\/2016\/02\/12\/lack-of-succession-plans-in-us-family-businesses\/","og_locale":"en_US","og_type":"article","og_title":"Lack Of Succession Plans In US Family Businesses - Thomas Schmidheiny Centre for Family Enterprise","og_description":"As per the recently released Northwest Family Business Survey 2015, about one-third of family businesses in the North West US, anticipate a leadership change in the next five years. 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