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Recently, Link Staffing was honored as one of Houston’s largest family-owned businesses, among many other great establishments. When you think of a seasoned, family-run business, thoughts of stability, longevity, toughness and progress may come to mind. A family-owned business invokes a strong sense of trust in consumers because they seem more stable, more customer-friendly, more approachable and more trustworthy.
Family-owned businesses, such as Wal-Mart, the Ford Motor Company, and Forbes, are the backbone of the economy and the true embodiment of fulfilling the “American Dream”.
5 Facts About Family-Owned Businesses
- Family Businesses Last for Generations
The length of leadership held by one person is four to five times longer than that of a corporate entity. Studies show that over 30% of all family-owned businesses make it through at least two generations. LINK Staffing has been helping skilled, unskilled and administrative talent find jobs since 1980. lot of this can be credited to the values that are instilled within a family business, such as encouraging children to earn their own money, philanthropy, volunteering and more. This creates a culture of commitment and purpose, ultimately leading to a dependable future.
- Family Businesses Focus on Values
For the most part, family-owned businesses have powerful internal cultures and score significantly higher on worker motivation and dedication to the job due, in part, to their respect for work/life balance. They instill this type of job satisfaction by focusing on the next generation, not the next quarter. They measure success in more ways than just . Link Staffing maintains its frequent and consistent practice to impress its steadfast values upon each facet of the organization.
- Family Businesses Have an Upper Hand in Marketing
It’s hard to beat a warm and fuzzy story of how one family started a business from the ground up and turned it into a success over the years. The family history is what instills customer loyalty and keeps a client from choosing a corporate competitor. Many family-owned businesses showcase their story in a lot of their marketing efforts. Not only does it have a positive impact on sales, but also on company morale.
- Family Businesses Face Issues Too
With all this talk of how family businesses have the upper hand, it’s easy to assume they never face any issues. However, some family-owned businesses may have to work harder to be offered the best investment opportunities. This is due to lack of optimal positioning and investors’ fear of potential family disagreements. In addition, any scandals that come up about the business can reflect directly back on an individual or the entire family, instead of an anonymous shareholder.
- Women are Treated Better in Family Businesses
Over the past five years, woman-owned family businesses have increased by 37%. And businesses that may have been started by men are now being handed down to daughters, sisters, wives or granddaughters as much as their male counterparts. In fact, Link Staffing is proud to boast having 3 female executives who continue to pave the way to success for not only the family business, but also the 15,000 workers they represent.
Family-owned businesses, like Link Staffing, offer a unique marketing perspective, greater employee motivation and morale, positive company culture, increased customer loyalty and so much more. We are honored to be one of Houston’s largest family-owned businesses!