Analysis of trends that turn an entrepreneurship idea into a family business: an article in perspective

Abstract

Purpose

This article examines some of the trends that allow to understand and analyze the evolution of the idea of entrepreneurship to become a family business.

Design/methodology/approach

This paper is based on systematic research.

Findings

Around four current trends and four future trends are presented, which allow the authors to understand how the family of an entrepreneur influences in a direct and indirect way in their business, until even managing to transform that business into a family business through planning, organization, management and control exercised by several members of the family of the initial entrepreneur and his future generations in that company.

Originality/value

This research makes it possible to identify some challenges and opportunities that family businesses must face, which arise from an enterprise and which can help them to have business success, covering part of the past, present and future of such organizations. In this way, this article synthesizes how family dynamics and business dynamics are intertwined through the influence of the family on an entrepreneur’s business model.