FAMILY BUSINESS IN SERBIA - PROBLEMS GROWTH AND DEVELOPMENT

Nowadays, family business is one of the most important generators of wealth and employment in the world economy. In all major economies, the small family business is the backbone of the economy and economic progress. Although it is dificult to accurately assess their presence in global terms, some estimates say that the participation of entrepreneurial companies that have established or run by families ranges from 65 to 90 percent of the total number of active companies in the world economy. Family business is vividly in expansion in Serbia, too. Such companies reported significant results. What a challenge, especially today, is the fact that life in a family-owned business is relatively short. A large number of familyy businesses fail to survive after the disappearance of its original founders. That primarily contributes to the lack of preparation for the upcoming generation growing business as well as numerically larger family. Just using good management structure, education of generations to come, by defining clear rules in the family, a clear separation of ownership from management, development tools business, the chances of survival and development of family-owned businesses are far greater.