According to Christopher Hirschfeld’s column in Gary Dick’s Morning Briefing:
Family businesses account for 80 to 90 percent of the 21-million business enterprises in the United States. Furthermore, they represent 50 percent of employment and Gross National Product. Wow! If we ever organize, family business owners would have tremdous clout!
In the meantime, Mr. Hirshfield’s comments on successful transition between generations is a good read.
Boston-based software firm VFA Inc. said today it has acquired Indianapolis-based Mezzia Ince. Good news for Mezzia, bad news for Indy! What can we do to help our local firms acquire others, rather than always being the ones that are bought?
Every day the press focuses on big business in Indiana. Will we or won’t we get the latest Toyota, Honda or other plant? While important to our economy, I think we are missing a very large business segment: Small and Mico Business.
In Central Indiana, there are more than 65,000 companies with sales under $1 million dollars. Isn’t it about time someone paid attention (not just lip service) to them??
If even 10% of these firms add one employee this year, it will have a greater impact on our economy than three manufacturing plants. So instead of planning trips to Japan, maybe just once in awhile our leaders should plan a trip to the local business community.
And maybe instead of multi-million dollar incentives for large companies to move here, and then leave, we should spend just a fraction of that creating real opportunities for small local business owners.