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6 facts about Canadian family businesses

By Samantha Garner | August 15, 2015

editorial-14Did 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?

Sources:
– E. Stavrou and P. Swiercz
– Globe and Mail
– PWC 2014 Family Business Survey
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Topics: Entrepreneurial Inspiration, Entrepreneurship News, Small Business Tips and Advice | 3 Comments »

3 Responses to “6 facts about Canadian family businesses”

  1. Northland Wealth Management’s Paul Mascard Speaks to Family Business Succession | Says:
    February 24th, 2017 at 7:26 am

    […] that only about 20 percent of Canadian family businesses have a strong succession plan in place, observes the GoForth Institute, which provides educational courses to the family business […]

  2. steve peyton Says:
    March 3rd, 2017 at 7:40 am

    Hi,
    I have the pleasure of working for the Sanderson family from Orillia, Ont. Same business since 1872, that’s 5 generations (6 now). We design and make granite monuments for municipalities, governments and cemeteries. The president (Don), the sales manager, office manager, shop manager are all Sanderson’s. I have tried to find out how many other family businesses have been under the same family management for this long. Many thanks, Steve Peyton

  3. Samantha Garner Says:
    March 3rd, 2017 at 10:24 am

    Hi Steve, thanks so much for your comment. What a fantastic story about the Sanderson family and their long-running family business! It’s always wonderful to hear about family businesses that find success – especially several generations of it!

    You might be interested in our blog posts about the Molson family and the Ganong family.

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