Family businesses can experience challenges when implementing good corporate governance. At Grant Thornton we help families put in place governance policies and procedures which address business risk and professionalise the way a business makes decisions. But research from Canada suggests that despite these challenges, family firms don't suffer from the short-termism which afflicts many public enterprises; and that in Canada, family firms outperformed the local stock market index by a staggering 40% over the past 20 years.