Ninety percent of all businesses in North America are family run.
Family businesses are responsible for 64% of our country’s gross domestic product and 62% of our labor force, which means it is not hyperbole to say that family-owned companies are the backbone of our nation’s economy.
While Biz features family businesses all year long, every November we take a deeper dive into the specific challenges and joys involved in this, the most common type of business.
In this issue we juxtapose old and new. In our cover Q&A, Metairie native Thomas Nieto of Main Squeeze Juice Company shares how his company’s plans for rapid expansion depended on him hiring the best — which in his case meant members of his family.
While Nieto is only six years into his family’s venture, the four companies highlighted in our second feature have all reached an impressive milestone — 100 years or more in business. I invite you to learn some things you never knew about the names you know.
Continuing the theme for the issue, in our Perspectives section you’ll find input from top local banking executives who share their best advice for family businesses.
Other don’t miss features in this issue include a rundown on tourism and what New Orleans & Company is doing to preserve what accounts for nearly 40% of New Orleans’ operating budget by industry superstar Walt Leger III, and a look at how a local nonprofit is using goats to shore up its bottom line.
Finally, looking ahead we’ve got two big issues up next: December looks at the Top 10 business Stories of the Year and January highlights the top CEO and Executives of the Year. If you have any thoughts on these, let us know at editorial@bizneworleans.com.
Thanks for reading,
Kimberley Singletary, Editor
Kimberley@BizNewOrleans.com