Only 3 out of 10 privately held firms survive into a second generation.

Question

Quizplus · Accepted Answer

Statistically, it's challenging for privately held firms to transition successfully to a second generation, with only about 30% making it, indicating that indeed only about 3 out of 10 survive this transition. This is often due to various factors such as lack of proper succession planning, differences in vision between generations, and the complexities of managing and growing a business over time.

Only 3 Out of 10 Privately Held Firms Survive into a Second