National training framework needed to save the family firm

摘要

Small family firms are the bedrock of the Canadian economy, yet only a small proportion last into the second generation. When family businesses fail, the impact on the family is usually severe. However, with around 94 percent of Canadian businesses being categorized as family firms, there is much more than personal financial grief at stake - for the sake of national competitiveness, politicians really need to focus on the family. Analysis published by the Canadian Association of Family Enterprise (CAFE) reveals that only three out of ten family firms make it to the next generation, and only one out of ten in to the third generation. As the old adage has it, "shirt sleeves to shirt sleeves in three generations" - the founder's zeal for the success of the business, and unquestioning desire to work every hour necessary, will not necessarily be passed on as business success generates a comfortable living.