The stories of Steve Jobs and Jeff Bezos starting their ventures in garages are staples of the American Dream, but nowadays, interest among young people in joining family businesses is on the rise. According to The Wall Street Journal, the impact of the COVID-19 pandemic on career planning, along with rapid advancements in AI and trade tensions sparked by Trump's tariffs, have made it increasingly difficult for the younger generation to secure ideal entry-level jobs.

Data from the U.S. Labor Department shows that the average monthly growth of non-farm payrolls has gradually slowed from 2021 to 2025. A survey reveals that 42% of small business owners plan to hand over their businesses within the next five years, creating significant opportunities for the next generation involved in family enterprises. According to Barlow Research, this is a 6 percentage point increase from five years ago.

Analysis from payroll services company Gusto indicates that since 2018, the number of small businesses hiring young children has doubled, showing a 13% increase as of January this year compared to the same period last year. Mark Valentino, the commercial finance executive at Citizens Bank, described this trend as a generational reversal. For decades, many business owners' children have resisted inheriting family businesses but are now eager to take over existing ventures.

According to Gusto economist Nick Tremper, although the proportion of family businesses hiring their children remains small, the trend warrants attention. Children who join family businesses often have longer tenure, benefiting both generations.

However, Gary Plaster, a family business consultant at Fairhope Group, warns that if children take over without adequate training and experience, it could negatively impact the enterprise. Many parents recognize the importance of experience and are proactively introducing their children to the business. For example, Curtis Hovis, who runs an automotive parts business in Pennsylvania, noted he does not want the next generation to struggle to achieve a challenging American Dream.

As a result, the children of his brother Cliff Hovis, who co-manages the business, have already joined the company and started from the ground up. Nichole Hovis, who joined in January, works in the inventory and pricing department with a salary of $55,000, consistent with the department's entry-level standards, but unlike other employees, she is expected to receive company shares in a few years.

Despite inflation and worker shortages, 61% of family businesses continue to report revenue growth. According to the Family Enterprise USA's annual survey, even amid challenges such as high inflation, labor shortages, and increased personal tax burdens, 61% of family businesses are still growing. Family businesses account for the largest source of private employment in the U.S., with 32 million family-run enterprises providing 83.3 million jobs and contributing $7.7 trillion to GDP annually. Josh Baron, a senior lecturer at Harvard Business School, points out that family businesses have many advantages over publicly traded companies. For instance, they do not have to appease capital markets and can make long-term value-driven decisions, operate with more flat structures, and facilitate quick information transfer to decision-makers, allowing for rapid action. In the turbulent times of Trump's trade wars, if family businesses can continue leveraging these advantages, they will remain an ideal employment choice for the next generation.