Management issues of business-owning families

This chapter summarizes the literature at the intersection of family and business for households owning a family business. While it may appear that these business-owning households earn higher income and accumulate more wealth, they face the challenges of managing the family/business interface. This chapter utilizes the Sustainable Family Business Model to carefully assesses two critically important dimensions: financial interface, where financial and human resources (typically labor) move between the family and business, and interpersonal relationships interface, where tensions between the family and business must be addressed for the family and business to survive and succeed.