Family-owned businesses play a major role in the economy and founders face difficult decisions when it comes time to consider passing it down to the next generation, experts said in a new podcast.
The latest episode of Goldman Sachs Exchanges discussed how family-owned businesses should approach planning for generational transitions given their importance to the economy, according to a transcript reviewed exclusively by FOX Business.
FX de Mallmann, chairman of investment banking at Goldman Sachs, noted that in the U.S. “there are over 32 million family-owned businesses, which represent over 80% of all businesses.”
“Those account for over 60%…
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