Nature of Family Business

Veland Ramadani, Esra Memili, Ramo Palalić and Erick P. C. Chang
Additional contact information
Veland Ramadani: South East European University
Esra Memili: University of North Carolina at Greensboro
Ramo Palalić: International University of Sarajevo
Erick P. C. Chang: Arkansas State University

Chapter 1 in Entrepreneurial Family Businesses, 2020, pp 1-28 from Springer

Abstract: Abstract This chapter treats the most important issues related to family businesses, such as family business definitions and categories, members of family businesses, family business systems, theoretical approaches, etc. Family businesses represent the oldest and the most common form of organizations and generate the most of new jobs in most of the countries. Researchers have recorded the predominance of family businesses in countries throughout the world, where approximately 90% of all businesses worldwide are family businesses. These businesses play a very important role in the economy and society. It should be emphasized that not all family businesses are small—they range from neighborhood’s micro-businesses to multibillion-dollar companies. According to Bloomberg Businessweek, around 35% of Fortune500-listed companies can be classified as family businesses.

Date: 2020
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DOI: 10.1007/978-3-030-47778-3_1

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