Family-owned businesses succumb to prolonged downturn
Many family-owned businesses are closing because the recession has outlasted their ability to hang on. The Small Business Administration estimates 90% of all U.S. businesses are family-owned or controlled, and the Bureau of Labor Statistics estimates about 4.3 million businesses with 19 or fewer employees closed between the end of 2007 and the end of 2008.
Wall Street Journal, The | 10/06
This story published in BBB TrustBrief on 10/08/2009
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