Growing a family company might provide unique challenges that other small firms don’t face. Family businesses are the foundation of several economies and can be found everywhere. Many of the world’s largest and most recognizable companies are also family-owned. It’s always challenging to grow your family-owned business globally, whether employing a new employee, developing a new product, establishing a new location, or taking out a loan to buy fancy new machinery. According to the European Family Firms Organization, around 60 percent to 90 percent of all European businesses are owned by families. Furthermore, family businesses provide 40 percent to 50 percent of all European private sector jobs.