About 30% of family businesses survive through a second generation, about 12% exist in the third generation, and only 3% live onto the fourth generation.
Tiara Chiaramonte is a second-year graduate student at the USC Annenberg School for Communication & Journalism. She got her bachelor's degree from the University of California, Irvine in political science and received a certificate in Middle Eastern studies. As an undergraduate, she competed in various Model United Nations conferences and won two awards. She also helped to create an online fashion and music magazine that explores Los Angeles culture. After graduating, she worked on three political campaigns during the midterm elections. In her free time, she enjoys cooking Italian food, painting, and most importantly, shopping. You can follow Tiara on Twitter at @tiarachiara42<