The Re-emergence of Family-Based Enterprises in East Central Europe: What Can Be Learned from Family Business Research in the Western World?

We examine to what extent lessons can be drawn from the experiences of family businesses in the Western world toward the re-emerging entrepreneurship in east central Europe. We conclude that often, as it does in the West, the family forms the basis for the creation of new business initiatives in this region. It is evident that research concerning family businesses in the West can lead to particularly relevant insights. The three characteristics that almost always affect every family business constitute the cornerstone for the future success.