Family Firms Face The Future: Problems, Challenges, Prospects
In 2009, the European Commission’s DG Enterprise and Industry published a report of Family business experts group calling on policy makers to promote family business tailored initiatives to support the owner-managed family business model.
In line with the approach, CIIM Business School and KEVE launched a research report that has focused on a pioneering survey looking to define the role of family firms here and to establish how their owner-managers view their position in the current economic crisis. This investigation was carried out in April-June 2010 with the participation of 2011 business entrepreneurs of which 80% classified their firms as family controlled.
Dr Panikkos Poutziouris , associate professor in Family Business & Entrepreneurship at CIIM and visiting faculty at Manchester Business School led the investigation.
“We have been evangelising about the protagonist role that family firm play in the social-economic development of the Cyprus economy, but it is the first time that we can systematically define the role of owner-managed family firms, across scale of operations, legal form, ownership regime and sectoral activity,” he said.
“We are delighted that about a third of family business entrepreneurs indicated that they will enthusiastically get involved in-depth case study analysis, which will allow us to unravel their idiosyncratic entrepreneurial affairs which often are not in accord with management orthodoxies.”
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