ELECTRI International – The Foundation for Electrical Construction, Inc. commissioned a study to examine family-owned and -managed electrical construction companies.Generating Success: An Exploration of the Issues Facing the EC Industry Through The Lens of Family Businesses was researched at Stetson University (DeLand, Florida) by Michelle DeMoss, Ph.D., and Greg McCann, J.D.
Their work created a profile of the membership of the National Electrical Contractors Association (NECA). Based upon responses to the survey that investigators used to gather the data, they found that:
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- Close to 98% of NECA member companies are family businesses.
- The profile of the “average” member is a 48-year-old male, second generation, who reports a high degree of family involvement in the ownership and management of the business.
- The majority of interviewees believe that family involvement in the business creates a strategic advantage which, in turn, has a positive impact on the performance of their business.