Family business in transition economies: An exploratory study of private business

Abstract

This paper aims to explore the background of transition economies observing the new phenomenon of private enterprise in the Republic of Cuba and franchising in Venezuela. We provide an outline of the changes expected in this former central-planned economies, the key traits that might rise on the aftermath of the transition, the current state of private enterprise in Cuba. We suggest how franchising could be a solution to develop a strong entrepreneurial families in transition economies with future suggestions for research.