Listen now 28 mins
Family businesses are the backbone of economies all around the world - indeed, the majority of firms are family-controlled, from the millions of modest firms, to commercial giants such as Ford and Wal-Mart. And yet less than a third survive to the second generation. Evan Davis and guests explore the possibilities and pitfalls of the family ownership model.
In the studio are Ian Maclean of luxury knitwear company John Smedley; Julie White of drilling and demolition firm D-Drill; and Tim Wates of construction and development group Wates.