ABSTRACT
This chapter establishes that entrepreneurial activity is embedded within the family and that familial entrepreneurship is widespread, especially in the realm of small, family-owned and operated businesses. It focuses on the spousal relationship as the primary source of familial social capital. Social capital has become a widely used and interpreted concept. The chapter seeks to explore how entrepreneurial activity is embedded within families. Succession refers to the transferring of management or ownership from the business founder or owner/manager to other family members, usually in the 'next' generation. Convertibility can also be seen in relation to employing staff in a family business. There are various ways that entrepreneurial activity can be embedded in families. The chapter illustrates the importance of this phenomenon by considering two issues – succession and the influence of the family of origin. It explores the relationships, roles and resources that may be involved and also establishes some parameters for this form of embeddedness.
