- Elgar original reference
Edited by Elizabeth Chell and Mine Karataş-Özkan
Chapter 18: Entrepreneurship in family businesses
This aim of this chapter is to provide a review of family business research focusing on studies that are related to entrepreneurship. This focus acknowledges key debates in the family business and entrepreneurship literature and highlights crucial links between these fields in terms of definitions, theories, methods and trends. The outcome is the identification of gaps in the overlap between family business and entrepreneurship literature which suggest future research paths. There is growing recognition of the prevalence of family businesses and their importance to economies throughout the world. It is estimated that, in most countries, family businesses represent two-thirds or more of all businesses (Howorth, Rose and Hamilton, 2006). People are sometimes surprised to learn that some of the largest corporations are family-owned businesses, firms such as IKEA, Wal-Mart or Haribo. Other companies are more well known for being family businesses because they stress their family roots and use them as a marketing tool; UK readers will be familiar with the Warburton family who make a virtue of their familiness in promoting their products. For many though, family business is associated with SMEs (small-and medium-sized enterprises) and if you look around any town, you will discover a proliferation of family-owned SMEs. The reality is that entrepreneurship is much less about the heroic individual seeking out opportunities that others cannot see (Ogbor, 2000) and more often about entrepreneurs founding and developing their enterprises along with other family members (Discua Cruz, Howorth and Hamilton, 2013).
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