SPECIAL ADVERTISING SECTION
Our Family, Our Business
F A M I LY B U S I N E S S B Y T H E N U M B E R S
24 percent of
family businesses are
led by a female CEO or
President. Nearly
60 percent of all
family businesses have
women in top manage-
ment team positions.
Family-owned businesses are the single largest job creator
in our economy. Family-owned businesses employ
60 percent of the U.S. workforce and are responsible
for 78 percent of all new jobs created in the U.S.
Now in its fourth generation of business, Aunt Carrie’s in Narragansett
is celebrating its 100 th anniversary this year, making it one of the
longest family-operated restaurants in the state.
Family-run businesses create a culture of commitment
and purpose, avoiding layoffs during downturns,
promoting from within and investing in people.
About 35 percent of
Fortune 500 companies are
family-controlled.
Located in Rhode Island since its founding in 1885, Taylor Box Company is a third-generation
family-owned and family-operated packaging manufacturer with a mission of delivering
world-class packaging.
The second oldest family business in Rhode Island,
A.T. Wall Company was founded in 1886 by Ashbel T. Wall for the
purpose of manufacturing metal tubing to support Rhode Island’s
jewelry industry.
Family businesses contribute 57 percent to the U.S. gross
domestic product. Family businesses employ 63 percent of the
U.S. workforce. 75 percent of all new jobs are generated by
family business.
About 19.3 percent of businesses are family-owned.
Founded in 1955, Chelo’s
has become the largest
family-owned
restaurant company
in Rhode Island with
eight locations across the state.
Over the past five years,
women-owned family
businesses have increased
by 37 percent .
Gilbane, a Rhode Island-based construction company, is one of the nation’s oldest family-
owned design and build companies. In 1870, William Gilbane founded a carpentry firm and in
1871, Thomas Gilbane apprenticed with his brother, William. They founded Gilbane Building Company in 1873.
SOURCES: Mass Mutual American Family Business Survey; Davis Wright Tremaine LLP; auntcarriesri.com; What You Can Learn from Family Businesses by Nicolas Kachaner,
George Stalk and Alain Bloch; familybusinesscenter.com; taylorbox.com; atwcompanies.com; chelos.com; Family Business Alliance; Family Business Statistics; sba.gov; Gilbaneco.com.
92 RHODE ISLAND MONTHLY l
MARCH 2020