6 facts about Canadian family businesses

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?

– E. Stavrou and P. Swiercz
– Globe and Mail
– PWC 2014 Family Business Survey
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