A few words about the project
Family businesses are an important part of both the Greek the Finnish economy. Research, carried out by for example Grant Thornton, an international audit control company, has shown that as many as 80% of all entrepreneurs believe that their company is a family business.
It is evident that significant economic activity and jobs stem from the family businesses. Yet little research has been done to identify the needs, the motivations and the challenges facing family businesses, both in Greece and in Finland, as well as worldwide.
Project goal
The FAMBUS project recognises that the role of family business in the national economy is extremely important and that is the reason we want to explore the difficulties and problems family businesses confront. It is a fact that family businesses face internal frictions and problems of succession beyond funding challenges, the continuous changing environment, modernisation, competition and globalization.
The FAMBUS project implements a quantitative and qualitative study using questionnaires, interviews and personal visits for identifying the challenges of family businesses.
The goal is to identify at least 100 family businesses for quantitative statistical analysis in two countries with a tradition in the family business (Finland, Greece). Further qualitative analysis is applied to selected family businesses. The characteristics of family businesses are explored and a Diagnosis and Self-Therapy model is developed together with a corresponding software tool based on the identification of problems and proposal of solutions. This tool aims to be used by family businesses to help them recognize potential problem areas and for proposing possible solutions. The web-page of the FAMBUS project will also incorporate a meeting point for family businesses, where they can exchange knowledge, discuss problems and find partners.