Our survey of over 1,300 U.S. adults sheds light on how family businesses are viewed by the general public, revealing key insights into the sector's identity, competitive positioning, and generational differences in perception.
2025 Family Business
Perception Report
Free download
Trait Associations
From honesty and ambition to creativity and innovation, which traits are most associated with family businesses?
When asked which traits they most associate with family businesses, respondents leaned toward values-based attributes with honesty, dedication, and passion topping the list.
However, social and purpose-driven attributes ranked much lower, with social responsibility and being charitable receiving significantly fewer selections.
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Business Challenges
What are believed to be the top challenges faced by family businesses, and are those challenges unique?
Interpersonal relationships and family dynamics are viewed as the main source of challenges within family businesses. This highlights the perceived difficulties of blending personal relationships with professional responsibilities.
Operational challenges, on the other hand, ranked much lower, with technology, scalability, and innovation falling below the interpersonal challenges. These findings suggest that while family conflict is widely recognized as a challenge, it is not seen as having a significant impact on how family businesses operate.
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Business Type Comparisons
How do family businesses stack up against private businesses and public companies in terms of their value and benefits?
Not surprisingly, family businesses are far and away the leaders in being genuine, trustworthy, and offering the best services.
However, when it comes to performance-based attributes like innovation and economic impact, family businesses fall behind the other types of businesses. These findings align with other insights from this study where innovation is the second-lowest trait associated with family businesses.
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