ABSTRACT
This chapter presents the case study of family business succession in Peru. Around the world, family businesses constitute a dominant form of business organization that contributes significantly to economic growth. Female entrepreneurship is a key contributor to economic growth in Latin America and the Caribbean. According to the findings of the Global Entrepreneurship Monitor, Peru, along with Japan, were the only two countries where women were more active than males in starting a business. In Peru, entrepreneurial activity is significantly higher compared to other low-income countries including Latin America. Family businesses that retain both management and ownership are still by large the dominant type of business enterprise in Peru, making succession vital to the survival of the business. Succession encompasses both actions and organizational mechanisms to secure the successful transition of management and ownership to the next generation. The successful integration of offspring into family-owned businesses is crucial for assuring the continued survival of such firms.
