Introduction

The vast majority of businesses in the world are owned or controlled by families. Family business is by far the most prevalent form of business in the world. As many as 80%–­95% of all businesses in the United States are family owned or controlled. In Europe, the prevalence of family business is approximately 70%–­80%. It is estimated as much as 75%–­90% of firms in the Middle East are family owned. In Latin America, 70% of all firms are owned or controlled by families. The Australian economy is controlled by family firms, estimated at approximately 67% of all businesses and Asia is dominated by family firms, many of them Chinese family firms that are based in other countries.

It is estimated that family businesses in the United ...

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