Multi-generational Family Business Project
Today only 30% of family-owned businesses survive the
transition from founder to the 2nd generation, marking an alarming
decline in recent years. Only 12% of family-owned businesses are still
viable into the 3rd generation with a mere 3% operating into the 4th
generation and beyond. Our communities
are losing the strong economic and social impact that these sturdy multigenerational
businesses that have grown steadily through several generations provide.
Jim Howard was born into a multigenerational family
enterprise and has spent a lifetime involved with them. He is compelled to tell their story in hopes
of turning this trend around. Jim is
producing a DVD with photos and voice-over of family members featuring two family
enterprises each from New Hampshire and New Mexico. The Hannah Grimes Center is
acting as fiscal agent to this project that will celebrate the dreams, stories,
challenges, successes and future prospects of a cross section of families
running multigenerational enterprises.
Discussions with school and community audiences will follow
its release to explore the growing sense of concern and nostalgia surrounding
family enterprises – whether artisans, farmers, ranchers, grocers,
restaurateurs, manufacturers, retailers, or cottage industry owners. Practical ideas for creative solutions will
be facilitated and recorded during each presentation and a project website will
be created to promote further outreach.
There is a direct impact on our communities when we lose the
family enterprises that bind communities and help sustain and preserve the
historical traditions, art forms, skills, leadership and economy.
Your support is most welcome for this project that will help our communities enjoy the full economic and social benefits that come when family businesses flourish.
