Family Entrepreneurship – Selected Economic and Social Aspects

Abstract

Family businesses are the most key actors that make up the global economy. They are by far the most popular form of doing business in the majority of developed economies. At the same time, they are the epitome of the spirit of the free market economy as reflected in the role of individual entrepreneurship and innovation. The importance of family businesses for the development of economies has attracted increasing interest over the last few decades. There is a fast-growing body of literature about different forms of family business and variations in family entrepreneurship. Some of these studies focus on the family itself. The paper aims to show mutual interdependences between the family, the entrepreneurial attitude and the functioning of family businesses, which are to a large extent responsible for the economic capacity of the EU countries and regions. The paper is a theoretical and empirical one. It deals with issues related to changes that occur within the family as well as its significance in the modern world, including economic life, and the specific attributes of family businesses. The empirical part presents the results of the survey FLASH EUROBAROMETER 354 on "Entrepreneurship". The paper is concluded by statement family businesses are the engine of deliberate and stable development passed on from a generation to a generation. Trust and loyalty, translating into relationships with employees and customers, are their important attributes.