ABSTRACT
For business family entrepreneurs start-ups, supported by family members is a natural choice, but for new generation of educated and professionally qualified technology entrepreneurs, it is a big decision and it has to be a preferred choice. These two categories have different compulsions and challenges to be managed. While business family entrepreneurs have many inherent advantages and support which new-generation entrepreneurs do not have, Indian family-managed businesses are not that ambitious; whereas in the global context, many multinational corporations are in reality family businesses. The business management approach and practices are different, which this chapter analyses with many examples to provide critical lessons. Indian family-owned businesses often become the attractive candidate for acquisition as entry strategy options for multinationals to enter Indian markets. For family business to grow, entrepreneurship needs to be promoted and supported. The chapter discusses these issues critically.
