Family businesses rarely last for three generations. Here’s how the Ai, Fukunaga, Watumull, Hata and Lau families did it, with insights from BCR’s Jean Santos.
Steven C. Ai says many families start businesses but only 5% manage to build substantial wealth and successfully pass it to the third generation.
Cultures around the world have sayings that describe the other 95% of family businesses: in America, one saying is “shirtsleeves to shirtsleeves, and in China, it would be rice paddies to rice paddies,” says Ai, President and CEO of City Mill.
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