Thirty Years Apart. What Has Changed in Family Business?
A new benchmark study compares family business findings from 1995 and 2025 to reveal what has changed, what has endured, and where families can focus next.
Access the Findings
Gain deep peer insights to help guide your family enterprise into the next generation.
Most family owners plan to keep the business in the family for decades. Getting there takes more than legal documents. In 1995, Family Business Consulting Group co-founders Craig Aronoff and John Ward launched a landmark study on how American family businesses navigate succession, governance, and ownership.
The Family Business Consulting Group and Plante Moran revisited the original study with a new generation of business owners. The findings reveal what has changed over three decades, what remains remarkably consistent, and where family businesses continue to face important questions about succession, governance, and shared understanding.
Thirty Years. Three Headlines.
Expect to keep the business in the family
Up from 91% in 1995, the commitment to family ownership remains strong.
Still operate debt-free
Unchanged since 1995, despite median revenue growth from $9.5M to $50M (inflation-adjusted).
Require outside work experience for family hires
Among families with an employment policy, up from 32% in 1995.A Glimpse Inside the Report
- Where families focus their attention. Top concerns have shifted from competition and regulation to educating family members and guarding against entitlement.
- Succession timing: by design or by delay? Fewer families have named a successor (35%, down from 44% in 1997). The report examines whether this reflects a more deliberate process or a conversation that keeps getting postponed.
- More plans, less shared understanding. More families have estate and strategic plans than in 1995, yet fewer understand their estate tax exposure or know what’s in each other’s plans.
- Governance in practice. How boards, outside directors, and committees are being used, and how owners rate their contribution.
What Does this Mean for Your Family?
Legal documents are essential, but true continuity happens when generations align. We help families talk openly, learn together, and reach shared decisions about what comes next.
This 30-Year Benchmark Study is a collaborative initiative led by The Family Business Consulting Group and Plante Moran.