All In The Family
Even in a tough economy, family-run firms are thriving. Here are seven
businesses that have made the grade.
Photography By Denise Ritchie
When Charles Croom joined his father David’s construction company, he already had 10 years of operational and managerial experience in the industry. “When you work in a family business you have to bring something to the table,” says Charles. “What was appealing to me when I decided to join the company was to continue the legacy.”
Family businesses are the oldest form of business organization; they’re also the backbone of the communities they serve. According to the Small Business Administration, approximately 90 percent of American businesses are family-owned but only 30 percent succeed in the second generation and only 15 make it to the third due to lack of careful planning and implementation.
While the pitfalls may be many so are the pleasures and pride in seeing the family legacy continue and flourish. Our community is blessed to have so many families succeed, doing what they love and doing it well. Here are some of their stories.
Read the entire article in the April 2012 issue