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Significance of Family Corporations

  • 60% of all businesses in the world are family-owned
  • 80% of the businesses in the Philippines are family-owned

However, out of 10 family-owned businesses started by the founders, only 3 will succeed to the 2nd generation and only 1 out of the 3 will succeed to the 3rd generation.

The 3rd Generation Phenomenon

Famous sayings:

“From rags to riches to ruins.”

“First generation creates, second generation inherits and preserves, and third generation squanders.” 

Can FAMILY BUSINESSES survive the 3rd generation phenomenon?

Family Business
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