Usually family business is accepted as a small scale business, predominantly micro and small firms, typical for traditional and labour intensive sectors such as agriculture, manufacturing/crafts, construction, tourism and retail trade. The general characteristics of Bulgarian family firms are their smaller size in comparison with the average size of European SMEs, simpler structures of ownership and management. Nevertheless, it could be outlined the significant contribution of family firms to employment creation and long-term stability of Bulgarian economy. In relation to the business succession issues, Bulgarian families declare as their priority passing into the hands of the next generation stronger and more competitive business. However, the youth of entrepreneurship in Bulgaria, the lack of family business tradition, and insufficient support from both the public organizations and NGOs hinders the survival and transfer of family businesses. Moreover Bulgarian family firms as all private businesses in the country are still at a very young age and are managed mainly by the first generation entrepreneurs. Therefore, just now the issue of transfer of ownership and management to the next family generation appears. In this respect the paper presents some management challenges of family business succession and on this base reveals specific characteristics and analyses succession problems of Bulgarian family firms. The paper is based on the case studies and results gathered within the frame of university research project Managing Business Succession in Bulgarian Family Enterprises (funded by the University of National and World Economy) and Family Business Succession Programme of Bulgarian Association for Management Development and Entrepreneurship.
Ključne reči :
Tematska oblast:
Uvodni rad:
Da
Datum:
01.06.2011.
Br. otvaranja:
859
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