Tackling the myths about family businesses
Professor Carole Howorth takes a broader view of the challenges facing family businesses.
Professor Carole Smith was one of the invited speakers at The CumbrianFamily Business Network Conference 2018. She drew on research findings to challenge some of the dominant perceptions about family businesses:
“To see a family business that survive more than three generations is quite rare, but research has found that family businesses tend to survive for longer and better than non-family businesses. Fewer fail and fewer close. They take a long-term perspective because family are involved. They are looking to the next generation and it makes them more passionate about their business. Family businesses are survivors.”