6 facts about Canadian family businesses
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?
[…] 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 […]
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
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.