The Hill News

The latest unemployment numbers offer little to cheer about and have left many in Washington asking, “What now?” After a stimulus bill, bailouts and reforms, job growth has stagnated and the economy is flat lining. Last month, President Obama turned to American businesses to “step up” and hire more employees. Many agree that American enterprise is the vehicle for economic revitalization, but it is family-owned business that is the engine.

Family-owned businesses across the country have been stepping up for generations. At 5.5 million strong in the United States, family-owned businesses are generating 57 percent of U.S. GDP and collectively employing 63 percent of the workforce. In fact, 75 percent of all new jobs are generated by family businesses.  

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