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According to Astrachan, et al. (2003), family businesses “generate no less than 64 percent of USA gross domestic product, and … employ a whopping 62 percent of the nation’s work force.” While the economic impact is evident, the state of governance may not be so apparent. In light of this information, two questions bearing examination are: (1) Is governance a critical issue for family owned businesses; (2) If so, how may these firms address these questions? Researchers at the University of Wisconsin, Oshkosh developed and administered a survey to collect data about family business boards. A companion study, with its focus on women business owners, was conducted by Meredith College researchers. This paper compares and reports the results.

Governance: Role Of Boards In Women Owned Businesses