According to Family Business Review only 12% of family businesses survive to the third generation and just 3% operate into the 4th generation and beyond.
However, when looking at Century Club Companies we see a far different story. There are 728 companies in my data base of U.S. companies over 100 years old. Of these, 85 (11.7 percent) are in their 5th generation of family ownership; 41 (5.6 percent) have made it to the 6th generation; and another 15 companies (2 percent) are in the 7th generation and beyond. These companies are truly treasures - for their families, their employees, their customers, their business partners, and their communities. To read what it takes to survive - and thrive - through the generations, see Lessons From Century Club Companies: Managing for Long-Term Success.