ABSTRACT
Family businesses are the most prevalent form of business and in many countries they represent at least two thirds of all businesses. Some people believe that family businesses are all traditional ‘mom and pop’ type businesses, or they are all small firms; some may believe that family businesses are always embroiled in conflict whereas others perceive them to be havens of harmony. Family businesses occur in all industries, including high technology, manufacturing, extractive and heavy industries, but they are more prevalent in agriculture, food, and retail sectors. They include some iconic brands, but we do not always know that they are family owned, as family businesses vary in whether they emphasise family ownership in their marketing. As far back as the hunter-gatherer period, individual family members would trade the products of their particular skills with other families. This chapter also presents an overview of the key concepts discussed in this book.
