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.
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References in periodicals archive ?
Paxton is also a family-owned corporation, with generations of Paxtons in its leadership, but it's a hefty private chain of nearly 40 dailies, a television station and numerous weeklies operating in 10 states, with an estimated revenue of $340 million a vear.
There are family-owned businesses in the country that have been in existence for decades.
Founded in 1956, Walters Group is a family-owned steel construction company that designs, fabricates, and constructs commercial and industrial projects throughout North America.
The next generation of leaders of family-owned companies says they are well prepared to anticipate disruption.
Family-owned business "always should be thinking about the generational transition," Noxel said.
As part of its private banking activities in CEE, Bank Gutmann a itself a family-owned enterprise a specialises in serving family-owned businesses in Central and Eastern Europe.
Although family-owned companies might be well diversified in terms of business lines, their operations often tend to be anchored around one or two major cash flow generating units that might cross subsidise smaller or nascent and loss-making operations.
Both OCS Group and Zahid Group are family-owned businesses which can trace their roots back to over 100 years.
MANAMA: More than 80 per cent of family-owned businesses have no term or age limits on board membership and one-third do not evaluate board members' performance, a survey has found.
"As a family-owned winery, I think that we find a synergy working with Gallo, the largest family-owned winery in the world," said Marilisa Allegrini.
"Our family has guided the company for more than 100 years, and we are excited to see American Greetings return to its roots as a family-owned business," said president and chief operating officer Jeff Weiss.

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