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All in the Family? Fun facts about Family Business

A PRIME Insurance Special


The 7 Powerful Dynamics in US Family Businesses

  1. Family businesses make up 80 to 90 percent of all US commercial establishments.

  2. More than half of the US Gross National Product comes from family-owned businesses.

  3. Approximately 1/3 of the nation’s family businesses incorporate husband/wife team players.

  4. Approximately forty percent of family businesses in the US become 2nd generation companies; thirteen percent evolve into 3rd generation enterprises; while only three percent of family businesses advance into 4th generation businesses and so on.

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     5. Women are key partners to family businesses, with 24% of females leading in CEO roles.

     6. Family businesses tend to bond with the local community, while placing an underscored focus on family life.

    7. Most family-run businesses involve themselves in charitable works and a variety of philanthropy involvement.


PRIME Insurance is a 3-generation family-run independent agency, with a focus on community and customer service. We’ve been appointed by the leading companies to deal directly with them, making us partners with the big industry names like ACE, ASI, ASSURANT, CHUBB, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and others. With thousands of satisfied customers, we benefit our clients by reviewing current coverage, and by shopping our extensive network to locate customized policies at competitively lowest quotes.

HAVE A PRIME DAY™!  PRIME Insurance provides all forms of nationwide coverage, including NJ travelers insurance, cheap auto insurance, low quote commercial umbrella insurance NJ,  flood insurance, NJ renters insurance, Houston, TX property insurance, NJ homeowners insurance, NJ bonds, NJ workers comp, life insurance and more. We invite you to experience the PRIME difference! Visit us on our online insurance website; email us at PRIME [at] primeins [dot] com or call us at 732-400-5242!

Summary:  Explore the meaning of family run businesses and why so many of them are successful - through the eyes of the award-winning insurance agency that knows what it’s all about.


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