family-owned businesses

Family-owned businesses are companies primarily operated and managed by members of the same family. These businesses often pass leadership and ownership from generation to generation, fostering a strong sense of tradition and long-term stability. They can range from small local shops to large multinational corporations. The family’s involvement typically influences company culture, decisions, and strategic direction, emphasizing personal values and legacy. While they may face challenges such as succession planning and succession planning, they often benefit from close-knit management and a deep commitment to the company's success across generations.