When you think of a small family owned business, you usually think of at least one local business you have known and have used your whole life whether a gas station, kebab imbiss, cafe, restaurant, or car dealership, etc. However, think about if everyone in the world named at least one such business. Many people would name the some of the same enterprises, but now you can imagine just how many small family owned businesses there are across the world. Because there are so many, not many reports exist that can contain the entire scope of every kind in every country, therefore, my report covers information regarding largely to european studies.
Across Europe and in the United States, there is no widely accepted definition or legal description of a “family business”, however there are many criteria that if met by a small business, can be used to classify a business as such. Although each country has its own list of indicators, some countries use “common knowledge” to decide what constitutes a family business. This means that most countries simply use perception to differentiate a family business from a non-family business based on the
Cited: (I have numbered my sources to make identification easier within the report) 1. D, Jamie. "Running a Family Business Within the Law | SBA.gov." Running a Family Business Within the Law | SBA.gov. U.S. Small Business Administration, 4 May 2010. Web. 5 May 2012. . 2. Elliott, Larry, and Julia Kollewe. "Germany 's Smaller Firms Emerge Intact from the Recession." The Guardian. Guardian News and Media, 15 Mar. 2011. Web. 5 May 2012. . 3. Mandl, Irene. "Overview of Family Business Relevant Issues." Ec.europa.eu. European Commission, Enterprise and Industry Directorate-General, 2008. Web. 5 May 2012. . 4. Winslow, CJ. "Welcome to FoodTronix." Welcome to FoodTronix. Web. 5 May 2012. .