Business Family Owned Oldest Long United People California Shop

According to the School of Business Administration at the University of Vermont, the average "life span" (how long something survives) of a family-owned business in the United States is 24 years. "Succession" (passing a business to a new leader and a new generation) is difficult, and only about 40% of family-owned businesses are successfully transferred to the second "generation" (a group of people born around the same time). That figure drops to 13% and 3% for the third and fourth generations.

However, some family-owned businesses have greater "longevity" (how long someone lives or how long something exists). For example, Wente Vineyards in California is one of the oldest "wineries" (a business that makes wine) in the United States, having reached its 130th "anniversary" (the date when something happened in an earlier year) in February 2013, with fourth- and fifth-generation employees.

It is difficult to determine which family-owned businesses are the oldest, since definitions of "family-owned" business can "vary" (are different). Researchers also disagree on how to "handle" (treat; consider) companies that have moved. For example, Zildjian Cymbal, a manufacturer of "percussion instruments" (drums and related instruments) was founded in Turkey in 1623, but it has been operating from Massachusetts since 1929.

The John Stevens Shop in Rhode Island is clearly one of the oldest family-owned businesses in the United States. The Shop has been in the business of making "gravestones" (stone markers with lettering used to show where a body is buried) since 1705.

Levi Strauss & Co. is a much larger company, which became famous for making "denim" (the fabric used for jeans) clothing during the "California gold rush" (the period of time when many people went to California to look for gold) in 1849.