Study finds trust gap between the public and family businesses

Next Gen Collaborative’s second annual survey says U.S. adults overwhelmingly trust family businesses and see them as vital to their communities, but many of their strengths and challenges remain hidden from people without firsthand experience. The 2026 report also finds big generational differences in how Americans view family-owned companies and their leadership transitions.

Why it matters: - Family businesses have strong public goodwill, which can shape customer trust, community support and the way future leaders communicate with employees, lenders and local stakeholders. - The study suggests that public perceptions may not fully reflect how family businesses operate, especially on succession, innovation and leadership change. - The findings matter for family-owned firms trying to reach younger audiences and prepare the next generation of owners.

What happened: - Next Gen Collaborative released its second annual 2026 Public Perception of Family Businesses Report. - The nationwide study was conducted with market research firm MacKenzie Corp. - Researchers surveyed 1,026 U.S. adults ages 18 and older. - Current and former family-business owners were excluded from the survey. - The report follows Next Gen Collaborative’s inaugural 2025 research.

The details: - 95% of respondents said family businesses are important to their communities. - 63% described family businesses as “extremely important.” - When compared with private businesses and public companies, 70% called family businesses the most trustworthy and transparent. - 77% said family businesses have the most genuine and authentic identity. - 71% said family businesses have the most positive community impact. - Jenny Dinnen, co-owner of Next Gen Collaborative, said people see family businesses as honest, authentic and deeply connected to their communities. - Dinnen said the public’s picture of family business is incomplete and many strengths and challenges are not visible from the outside. - Employees or former employees of family businesses were more likely than those without that experience to describe family businesses as ambitious, creative and innovative. - Among current or former family-business employees, 43% called family businesses ambitious, compared with 32% of non-employees. - In the same group, 41% called them creative, compared with 31% of non-employees. - Also among that group, 34% called them innovative, compared with 24% of non-employees. - Employees and former employees were more likely to say family businesses face serious challenges involving succession, outdated technology, innovation and leadership. - Among adults 60 and older, 70% associated family businesses with dedication. - Among adults ages 18 to 39, 50% associated family businesses with dedication. - Among adults 60 and older, 83% associated family businesses with authenticity. - Among younger adults, 72% associated family businesses with authenticity. - Katie Rucker, co-owner of Next Gen Collaborative, said trust and understanding often deepen through experience. - Rucker said family businesses need to communicate more intentionally with younger generations. - Overwhelming majorities across all three age groups supported public policies that help family businesses transition leadership from one generation to the next. - The report is available now and includes findings on trust, community impact, generational differences, employment experience and leadership transition. - The survey results carry a 95% confidence level with a margin of error of about plus or minus 3 percentage points.

Between the lines: - The report shows a familiar split between reputation and lived experience. - Public audiences admire family businesses from the outside, while insiders see more of the operational strain behind succession, technology and leadership change. - The age gap suggests family businesses may need more direct storytelling to build relevance with younger adults. - Repeating the study annually gives Next Gen Collaborative a baseline to track whether those perceptions shift over time.

What's next: - Next Gen Collaborative plans to keep repeating the survey each year to measure what stays constant and what changes. - The firm wants the findings to help family businesses make better decisions about communication, leadership and future planning. - The report points to continued interest in policies that support generational transition in family-owned companies.

The bottom line: - Family businesses already have public trust, but the next challenge is turning that goodwill into better understanding, especially among younger Americans and people without family-business experience.