Abstract:

Family-oriented companies are a predominant type of company in the context of the Portuguese private business fabric. At the heart of this business typology, two structural aspects of the life of individuals coexist: work (company) and family, with multiple challenges experienced by those who create, manage and coordinate them: their entrepreneurs. Recent studies reveal that 50% of family businesses do not reach the second generation and only 20% reach the third generation (AEP, 2011). Business succession planning represents one of the main management challenges experienced in this segment of companies. This communication presents a reflection on family entrepreneurship in Portugal, offering a portrait of the family businesses in the North Region of Portugal and focusing on main management challenges, such as business succession and management professionalization.