To Repair or RepaveNovember 14, 2019
NATCO’s Transportation HistoryDecember 17, 2019
“Taking Over From a Guy”
Our friends at ThomasNet have started a fascinating series of articles. “Family Businesses Rarely Transfer to the Next Generation” highlights an estimated 10% – 30% of U.S. businesses transferring to family members “when the founder exits.”
ThomasNet is exploring many topics under that umbrella, and much of it resonates strongly with us here at NATCO, a family-owned business for more than a quarter of a century. We’ll explore them one at a time over the next few weeks.
First, though, the article links to a great summary on FamilyBusiness.org—“Daughters are Taking Over Family Businesses.” (Yes, that also resonates with us.) Among the highlights are some impressive points:
Family-run companies account for about 90% of U.S. businesses.
This totals some two-thirds of U.S. employment.
About 10,000 boomers turn 65 years old every day; of these are mostly male founders and leaders of the family business.
“They’re increasingly passing on ownership and leadership of the family enterprise to their daughters, even in traditionally male-dominated industries.”
Here’s how the article concludes:
“Odds are, it won’t be long before the phrase “male-dominated industry” will fade into history. The only question retiring family business owners will need to answer: Who is the best person to manage the company?”
The organic search terms FamilyBusiness places at the bottom of the page is especially telling, and we really appreciate their selection:
Additional search terms: women, feminism, leadership, leading a family firm, taking over from a guy, female founders, women business owners, glass ceiling, sexual discrimination, bias, opportunity
Yes. Opportunity should not be a male-female, black-white issue. The gender thing has certain challenges, especially given this traditionally male-dominated business. While we’re proud to be a family-owned, woman-operated company, we don’t dwell on it.
We’re of the mind that our business should be judged on the integrity of our character, not on the definition of our gender.
Team NATCO wishes a very healthy and happy Thanksgiving weekend
to our customers, associates, carriers, and vendors.