1922: Humble Beginnings
Stemar started with the immigration of Joseph Markonich in 1922 with nothing more than an anvil, a blacksmith hammer, a pair of strong arms, and an American dream.
DID YOU KNOW??
Family businesses account for:
64% of US gross domestic product
62% of the country's employment
78% of all new job creations
The oldest family owned business is the world is over 1,300 years old.
Hoshi Ryokan, a hotel in Japan, was founded in 718 and holds the current world record for the oldest family owned business still in operation.
The Hoshi family is currently on their 46th generation of family ownership!
Reference/Credit to: Astrachan, Joseph & Pieper, Torsten. (2014). Special Issue: Trust and Relationship Commitment in Family Business. Journal of Family Business Strategy. 5. 211-212. 10.1016/j.jfbs.2014.08.001.