CHALLENGES AND PROBLEMS THAT FAMILY BUSINESSES FACE

Abstract

It is a fact that the family business is becoming increasingly interesting for researchers in the field of management. From here the initial basis for their special treatment is drawn, since their holistic treatment with other MSMEs still does not emphasize their uniqueness in many aspects. If the importance of these family businesses is supported by the fact that they participate with 70% in the GDP of Europe as well as the fact that they employ up to 60% of the labor force in Europe, then it is more than clear that the scientific community should pay much more attention to these businesses. The paper aims to cover the biggest challenges and problems faced by family businesses, especially in terms of their management, inheritance, organizational communication and vision for their development, as segments where the biggest problems are observed.