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Family-owned businesses drive more than 70% of gross domestic product globally and generate a majority of new jobs in the U.S. according to the nonprofit Conway Center for Family Business, but they also face unique challenges that threaten their survival. A recent StartupNation article outlines 12 strategies to keep family-run businesses thriving, from role clarity at the startup stage (when risks are especially acute) to fair compensation and thoughtful succession planning.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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