| Abstract [eng] |
There is no definition of \"family business\" in Lithuanian law and there are no accurate statistics for it to know how many family businesses there are in Lithuania, according to preliminary estimates there are fewer than in other Baltic countries, but the literature has shown that a family business does exist in Lithuania, although it is not widely debated issue. According to the European Family Businesses, family business means any size company where the main decision-making power belongs to the person who founded the company or their spouses, parents, children or direct heirs hold the largest share of the company. There are separated the outer and inner family business development influencing factors related to the peculiarities of the family business, and the challenges family businesses face with. Literary analysis shows that the most specific problems family businesses face with are related to family relationships and how those relationships influence business management and other aspects. |
