Do You Own or Manage Your Business With Family Members? Here Are 3 Essential Tips to Create Value Together.

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Family businesses drive a substantial amount of economic activity. A recent Global Entrepreneurship Monitor report found that across 48 economies, “75% of entrepreneurs and 81% of established business owners co-own and/or co-manage their businesses with family members.”

I am the former president of my family’s small company and the founding executive director of the Bertarelli Institute for Family Entrepreneurship at Babson College. The most important thing I stress to students is that I’m not trying to prepare them to join the family business.

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