Definitions for family business
This page provides all possible meanings and translations of the word family business
a corporation that is entirely owned by the members of a single family
A business whose owners are all members of the same family.
A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business’ overall well-being. In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person can garner enough shares to assure at least 20% of the voting rights and the highest percentage of voting rights in comparison to other shareholders. Some of the world's largest family-run-businesses are Walmart, Samsung Group, Tata Group and Foxconn. Family owned businesses account for over 30% of companies with sales over $1 billion.
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"family business." Definitions.net. STANDS4 LLC, 2014. Web. 24 Oct. 2014. <http://www.definitions.net/definition/family business>.