Multi-generational family businesses say the American Dream is fading for today's entrepreneurs
By
Megan Sauer
Summary
This article examines how multi-generational family businesses in the U.S. are struggling to maintain the American Dream, as economic conditions have shifted dramatically over the past century. Through the lens of Starr Hutchings Purdue, whose family has run Hutchings Funeral Home in Macon, Georgia since 1910, the piece explores how rising costs, increased competition, and changing market dynamics have made it harder for small-business owners to achieve the same upward mobility and financial security that previous generations enjoyed. The article features perspectives from several long-standing family businesses and experts who argue that the American Dream — the idea that each generation will do better than the last — is increasingly out of reach for today's entrepreneurs.
Source
bskyMulti-generational family businesses say the American Dream is fading for today's entrepreneurscnbc.comKey quotes
· 3 pulledYou weren't relying on somebody else to provide your livelihood.
For the first time in generations, a wide array of U.S. entrepreneurs are struggling to do better than their parents, small-business owners and experts say.
Owning a business enabled independence and freedom.
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