Business-Owning Families: Challenges at the Intersection of Business and Family

Abstract

This chapter summarizes the literature at the intersection of family and business for households owning a family business. While it may appear that these business-owning households earn higher income and accumulate more wealth, they face the challenges of managing the family/business interface. This chapter utilizes the Sustainable Family Business Theory (SFBT) to carefully assess how human, social, and financial capitals are used within the family business to support both the family and business. A special case is examined where SFBT is applied to couples starting a business.