Inheriting the legacy but not the business: When and where do family nonsuccessors become entrepreneurial?

James G. Combs, Peter Jaskiewicz, Sabine B. Rau and Ridhima Agrawal

Journal of Small Business Management, 2023, vol. 61, issue 4, 1961-1990

Abstract: Entrepreneurship declines precipitously across generations in family firms, except in families that convey an entrepreneurial legacy to successors. However, because an entrepreneurial legacy is imprinted on all children, its impact should extend beyond successors. Inductive analysis of data from 26 nonsuccessor adult children from 13 multigenerational German wineries reveals that whether and where—at the firm, within the family’s portfolio of firms, or elsewhere—such adult children pursue entrepreneurship depends, in addition to having an entrepreneurial legacy, on family cohesiveness and flexibility. Implications are that whereas entrepreneurial legacies affect all children, whether and where children leverage their legacy depends on the business family behind the family firm.

Date: 2023
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DOI: 10.1080/00472778.2021.1883038

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