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How family businesses are being uniquely affected by the COVID-19 crisis, according to a Kellogg professor of finance

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Like many small businesses, family-owned businesses have struggled during the pandemic.
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Family businesses are often left out of the conversation when it comes to economic recovery and growth, says José Liberti, a clinical professor of finance at the Kellogg School of Management.
Despite the fact that they contribute significantly to the US GDP, Liberti explains that it's difficult to compile reliable data on family businesses, especially as there isn't a set rule for what a family business is.
Family businesses do have some advantages, however, that could help them...
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