Family Business

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Family Business

A company in which one person or a group of related persons is the controlling shareholder. The term connotes a small business, but some family businesses are large, publicly-traded corporations. In the latter case, family members often serve on the board of directors and may appoint some of their number to major executive positions.
References in periodicals archive ?
These findings reflect the widely held view that family businesses often have a strong relationship with the community and have broader motivations when starting their business than merely making money,' continued Nashaat.
The Coutts Prize for Family Business was launched to showcase and champion exceptional family businesses.
Speaking at the afternoon session of the DIFC Summit, leading decision makers of family businesses in the GCC region said, taking measures to avoid an unfavourable impact on the business is necessary; however, family businesses in the region should avoid making decisions based on fear and negative sentiments.
Nearly three-in-10 family businesses are run by women, while only 25pc of non-family businesses have women at the helm.
In a new millennium, family businesses are redefining themselves.
In these difficult economic times this generous support and participation from Burns and Levinson clearly highlights their dedication and continued commitment to family businesses.
Almost three-quarters of the region's family businesses are owned and managed by the second generation, and one-fifth by the third generation.
The event was attended by representatives of the awards' sponsors, supporters and family businesses, including McAuliffe Civil Engineering, winner of the 2011 Best Small Family Business category.
This makes family businesses extremely vulnerable to shifts in leadership, such as that expected to affect a majority of family businesses when their leaders retire.
The repeal of family aggregation is a welcome change for some family businesses, but a disadvantage for others.
Family businesses can be extremely rewarding places to work.
But family businesses risk their growth potential if they fail to recruit from outside and face up to difficult issues -such as succession -before they become potential areas for family unrest,'' he added.