MacKellar: 100 Years and Counting
By Jack FosterBefore any discussion takes place of MacKellar Associates, Rochester Hills, Michigan, here are some challenging — if not daunting — facts about family-owned businesses:
- According to the Harvard Business Review, approximately 70 percent of family-owned businesses won’t make it to a second generation.
- Only 30 percent of family businesses survive the transition from first- to second-generation ownership.
- Just 12 percent survive the transition from second to third generation. Only 13 percent of family businesses remain in the family more than 60 years.
- And, 47 percent of family business owners expecting