Did you know these six facts about family businesses in Canada:
- Approximately 80% of all businesses in Canada are family-owned
- Family-owned businesses are responsible for about 60% of Canada’s GDP per year
- Many of Canada’s largest and most well-known businesses are family-owned, including Bombardier and McCain Foods Limited
- Molson Coors is the oldest family business in Canada
- Only about 20% of Canadian family businesses have a strong succession plan
- To keep the peace at the next family dinner, 88% of Canadian family businesses have a conflict-resolution strategy in place.
For more reading about family businesses, check out The perks and snags of family business, How to create a strong family business environment with non-family employees, and Does your family business have a succession plan?