What State Has the Most Family-Owned Businesses?
The study was conducted by OnDeck with the analyzed data including spouse-run businesses too. They discovered the state with the highest share of family-owned businesses is South Dakota, with 43% run by families or spouses.
Thriving Family Businesses
While South Dakota was the state with the highest amount of family-run businesses, there was one metropolitan area that had an even higher percentage. More than half of all businesses in Lima, Ohio, are family-run, with Lima’s 56% being the top figure for any U.S. metropolitan area. The state with the highest proportion of spouse-owned businesses was Idaho with 35.6%.
New York is the state with the lowest share of family businesses at just 20.4%, although New Jersey, Massachusetts and Connecticut ran New York pretty close.