Economic importance of the family business. An approach from economic policy
DOI:
https://doi.org/10.7203/IREP.3.1.21260
Abstract
There are many studies that emphasise the relevance of family businesses in economic welfare, and they consequently are an object of interest for public institutions. In this context, this paper aims to provide an analysis of family businesses from the perspective of economic policy. The literature review shows that the relationship between public decision-makers and family businesses is bidirectional, since the former take measures to promote the activities of the latter but, at the same time, these businesses become lobbies which, under an inverted Say's Law, influence the activity of public decision-makers. In an applied approach, the European Union has encouraged both the Commission and the Member States to promote initiatives that face the challenges and create a favourable environment for the development and expansion of family businesses. Finally, an empirical analysis has been carried out in the framework of economic policy, taking as a quantitative reference the Family Business Report published by the Global Entrepreneurship Monitor (GEM) in 2020.
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Author Biography
Evangelina Aranda Garcia
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