The Modern Family Business: Relationships, Succession and Transition

Abstract

Family businesses constitute over 70% of all business world-wide and while much attention has been focused on those with large turnovers, huge numbers of employees and dynastic ownership, very little research has considered the myriad and diversity of the majority. In addition, the accepted nature of the 'family' in business-traditional in view and classic in definition-seems to lag behind our modern concept of the extended, complicated and diverse character of the 'family'. Focusing on these two gaps, this book considers smaller family-owned businesses which have features that have often been neglected. It aims to highlight the gaps in our understanding of the modern family business and through the use of four case studies illuminates the 'family' aspects of business which makes these businesses unique.