Companies often use the term “family-owned business” to denote trustworthiness, a down-to-earth mentality, and customer service grounded in genuine care. When customers read that a business is family-owned, they automatically tend to place a certain level of trust in that business. The unspoken expectation is that if you support a family-owned company, the company will treat you as if you are part of the family. Such an assumption is comforting and places a lot of power behind the “family-owned” tag.
Family-owned businesses come in all shapes and sizes and exist in virtually every sector of the business world. In this white paper, we will look at what America’s family-owned businesses have in common, from structure to mission to background check policies and hiring practices. These commonalities will help your business to identify strategies and best practices that you can implement to grow and succeed.