Family businesses in the Czech republic and their involvement in digitization

Our article deals with family businesses according to Czech legal regulations. It summarizes their specifics and typical features, including their involvement in digitization and the use of artificial intelligence. Family businesses have been emerging in the Czech Republic for the past thirty years. The term family business is appearing more and more in the names of already existing companies. The number of these companies is also growing in the Register of Family Businesses. That is why we are thinking about what advantages such a designation can bring to the company and at the same time what it can bring to our Czech society. According to expert estimates, family businesses create more than half of the gross domestic product. They are usually local patriots, invest and plan their development for future generations. The influence of the family business on the education of the next generations, the intergenerational transfer of experience is essentially essential. On the other hand, such a company designation represents new obligations and different expectations of state and other institutions, business partners and customers. Automation and digitization belong to the current and future functioning of family businesses. Research shows that family businesses are not afraid of these challenges, increasing their performance, effectiveness and resilience.