Family business combines business and family. Until recently, the legislation did not have a legal definition of family business, with the term family, business and other aspects of this relationship being defined in various regulations.

In addition to the founder of the family business, other close family members are involved in the business as co-owner, statutory officer, manager or employee. In addition to the intention to make a profit, family is an important part of the family business, which is why the family business has built a family culture in which the founder intends to hand over the management and running or ownership of the business to the next generation.

According to statistics, the overwhelmingly preferred legal form of family business is the limited liability company. In family businesses, family members are gradually involved in the ownership and management structures of the business and there is now a generational change of founders.

If you are interested in this topic, you can read the full article:Supporting family business over the past three years - what has been achieved and what could be improved?