Study of the Profile of Family Business in Republic of Moldova
The dynamic changes in socioeconomic contexts necessitate enhanced resilience in order to retain and grow a firm, regardless of its size or model. Because family business is one of the most common business formats in the world, there are a variety of outcomes recorded during their operations. Multiple international studies and analyses of family businesses reveal that this sort of entrepreneurial activity is sustainable and efficient from a variety of perspectives, contributing not only to the economic growth of the country of origin but also to global economic growth. Since entrepreneurial activity has been undertaken in the Republic of Moldova for about 30 years, we discovered that family enterprises have not been evaluated as a separate category and their unique characteristics have not been identified. We hoped to conduct a scan of family firms as part of this study in order to determine their profile in the context of the current business environment. The research conducted allowed us to create a portrait of family businesses in Moldova, as well as identify commonalities and variations between family businesses in developed and developing nations. The study’s findings can be used as a foundation for future in-depth and specific research, as well as for decision-makers in establishing and implementing policies and support mechanisms to help this vital section of entrepreneurship grow.
Management Department, Academy of Economic Studies of Moldova, Chisinau, Republic of Moldova.