INTERCOMPANY CONDITIONS FOR DEVELOPMENT OF FAMILY BUSINESS
RAYA MADGEROVA
VYARA KYUROVA
ANNY ATANASOVA
BLAGOVESTA KOYUNDZHIYSKA-DAVIDKOVA
Abstract
The present article emphasizes the intercompany conditions for development of family business. The aim is to research and analyze some of the conditions that are more defined for development of the family business and in connection with their improvement to be brought out those of them that require special attention by the business owners, respectively managers. Statistical data from the European Family Business Barometer and results from own questionnaire survey are used. The role of the family business in the economy is also presented. The economic and management internal company conditions for the success of the family enterprise are discussed. Accordingly to the nature and role of this business are determined significant economic conditions such as availability of market opportunities, conducting of market research, consideration of offering products with consumer demand, innovation performance, business financing and investment. The article also considers the following important management conditions: a clear vision of the direction of business development, availability of managements’ and economics education of owners, availability of management and delegation of rights, creating a balance between business and family.
Keywords
family business, economic role, corporate development conditions, economic conditions, management conditions
JEL Codes: M12, M21
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