Abstract
Family firms serve as a major source of economic growth and wealth creation in the U. S. economy (Shanker & Astrachan, 1996). However, fewer than 30% of these businesses survive to second generation and fewer than 15% survive to the third generation. Research has identified some issues related to family business survival, primarily larger family businesses (e.g., Ward, 1987). Little research has examined issues related to longevity of small family businesses. The purpose of this paper is to identify and test a set of variables that may be linked with the survival and growth of small family businesses.