“…Family businesses play a significant role in the economic well-being of many countries worldwide (Camilleri and Valeri, 2021), as not only major producers of goods and services but also major suppliers for other industries, thus driving the gross national product (Deb et al, 2022). Between 67 and 90% of world businesses are operated by families, collectively employing half of the world's workforce (Obermayer et al, 2021;Veloso et al, 2021;Elmo et al, 2020;Royer and Bradley, 2020;Kiwia et al, 2020;Wang, 2010) and is labour intensive (Piramanayagam and Seal, 2021a, b).…”