Profile of family business in Republic of Moldova

Abstract

The current national and international economic environments have the hallmark of a high degree of uncertainty and are characterized by significant fluctuations under the influence of various factors. Thus, business sustainability becomes more sensitive to these influences, regardless of the business model applied. The results of multiple research and analysis of family business at the international level show that this type of entrepreneurial activity is sustainable and efficient from several points of view, contributing not only to the economic growth of the country of origin but also at international level. Since in the Republic of Moldova the entrepreneurial activity has been practiced for about 30 years, we found that, until now, the family businesses have not been analyzed as a separate segment and their specific features have not been identified. Through this research we intended to perform a scan of family businesses in order to identify their profile in the context of the existing business environment. The study carried out allowed us to establish the Portrait of family businesses in the Republic of Moldova, to find some common ground and differences between family businesses in both developed and developing countries. The results of the study can serve as grounds for other more in-depth and specific research, and for decision makers as support in developing and implementing policies and support tools for the development of this important segment of entrepreneurship.

Keywords

• family business
• sustainability of the family business
• successions
• family members
• business plan
• conflict solving
• business environment
• decision making
• business support instruments
• future development.