Profiling family firms in the autonomous region of the Azores

Abstract

This study aims to profile family firms located in the Autonomous Region of the Azores. Using a sample of 82 family-controlled firms, we were able to create the profile of these firms, by looking at several important profiling aspects such as ownership and governance, experience and management, and corporate culture. While other indicators are also taken into account: sector of activity, years in business, number of employees, and last year's turnover. Results show that these firms are owned and controlled exclusively by the family, and its owners and managers are the founding generation. They operate in the retail sector, have less than 10 employees, have been in business for over 30 years, and have a turnover of less than €500,000 per year. The family members show a strong sense of pride, belief and identity towards the firm and consider that the family has an important influence in the business.