family businesses

Family businesses are enterprises owned, managed, or significantly influenced by family members across generations. They can range from small local shops to large multinational corporations. Family involvement often shapes the company's culture, decision-making, and long-term vision. These businesses prioritize continuity, reputation, and legacy, balancing family interests with business sustainability. Success depends on effective governance, clear roles, and adapting to market changes while maintaining family harmony. Family businesses play a vital role in economies worldwide, contributing to employment, innovation, and community stability.