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Definition, Characteristics And Problems Of Family Business

Author

Listed:
  • RAYA MADGEROVA
  • VYARA KYUROVA

    (SOUTH-WEST UNIVERSITY “NEOFIT RILSKI”, BLAGOEVGRAD)

Abstract

The article examines the role of family business for economic development. The views of various authors on the definition of family business are presented. Special attention is paid to the relationship between family, business and property. The main problems of family business, mostly as associated with the ownership, management and continuity are placed. the need to effectively solve one of the most complex problems of the family business – the intermingling of business and family interests, the need to integrate the interests of businesses and families and to achieve a balance in the relationship between them regarding the implementation of the economic role of the firm and social role of the family are emphasized. Ensuring continuity of the business and its transfer is regarded as one of the most important problems in the business with a significant impact on growth and job retention.

Suggested Citation

  • Raya Madgerova & Vyara Kyurova, 2014. "Definition, Characteristics And Problems Of Family Business," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 10(2), pages 97-105.
    • Handle: RePEc:neo:journl:v:10:y:2014:i:2:p:97-105
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    Citations

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    Cited by:

    1. Anny Atanasova & Blagovesta Koyundzhiyska-Davidkova, 2016. "Analysis and Evaluation of the Economic State of the Family Business in Bulgaria," International Conference on Marketing and Business Development Journal, The Bucharest University of Economic Studies, vol. 2(1), pages 91-99, July.
    2. Yulia Nedelcheva, 2019. "Competition And Competitiveness In Pharmaceutical Industry," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 16(2), pages 66-77.
    3. Miroslav Nedelchev, 2020. "Origin And Definition Of Regtech," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(1), pages 1-9.
    4. Miroslav Nedelchev, 2018. "Diversity On Corporate Boards: Parent Banks Vs. Subsidiary Banks," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 14(2), pages 2-10.

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