Experts estimate that family-owned businesses worldwide contribute more than half of gross domestic product and two-thirds of employment. Family-owned businesses also are among the most trusted type of business in America, yet most lack a formal business succession plan that can help keep the peace and ensure continued vitality of the family business for generations to come. Still, only about 30% of family businesses make it to a second generation and 13% last to a third. This episode of the First Business Bank Podcast includes recommendations to strengthen the future of your family-owned business.