Gender differences and the factors that affect family business growth in Canada

What affects the growth of family business in Canada? What hinders the growth of family business? This study examines the factors that affect the growth of family business in Western Canada. Family business owners were surveyed to gather information. Subjects were asked about their beliefs, perceptions, and feelings regarding corporate governance, management skills, experience, family size, firm size, and the growth of their family businesses. We found that family business growth is positively associated with CEO duality, board size, firm size, management skills of the board members, experience, family size, gender, and industry. We found that male respondents stated that family business growth is positively associated with board size, firm size, management skills, and experience. Female respondents indicated that family business growth is positively associated with CEO duality, management skills, and family size. This study contributes to the literature on the factors that affect the growth of family businesses. The findings may be useful for financial managers, family business owners, stakeholders, investors, and small business management consultants.