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Funding alternatives and business planning in family businesses

Sági, Judit and Juhász, Péter (2019) Funding alternatives and business planning in family businesses. Prosperitas, 6 (1). pp. 35-53. DOI https://doi.org/10.31570/Prosp_2019_01_2

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Official URL: https://doi.org/10.31570/Prosp_2019_01_2


Abstract

Family businesses form the backbone of the SME sector in every country. Those founding a new business entity usually need support from their family members, let it be their knowledge, money, assets, time, or simply understanding and personal care. Thus, it is vital to enhance not only the survival, but also the success rate of these firms. This paper reviews issues that entrepreneurs will face as a top-manager in a family business context. We assess alternatives to common financial accounting and performance measurement practices and compare adequate financing sources and strategies for family businesses to practices used by other types of firms. The paper discusses the different forms of funds that are available to the owners of these enterprises. We will start with a brief characterization of the ownership structure of family businesses. Then review the literature on funding resources to family businesses. These different resources are discussed from a family relevant practical point of view. Finally, some conclusions are presented.

Item Type:Article
Uncontrolled Keywords:family business, financing, business planning
Subjects:Finance
DOI:https://doi.org/10.31570/Prosp_2019_01_2
ID Code:4265
Deposited By: Veronika Vitéz
Deposited On:16 Oct 2019 13:46
Last Modified:16 Oct 2019 13:46

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