THE NEW CHINESE ENTREPRENEURS: HOW THEY VIEW FAMILY BUSINESSES

This paper compares Chinese and American family businesses on a number of important variables, including succession issues, management of the firm, and relationships within the family. Interviews were conducted in Mainland China with nine Chinese entrepreneurs to determine their experiences with and attitudes towards family businesses in their society. The interviewees were involved in both manufacturing and service businesses, and were almost equally balanced between men and women. Results of the interviews indicated a more negative view than one would expect of the family’s role in Chinese business operations. Family businesses were seen as less well managed, less professional and more chaotic than non-family businesses. In addition, none indicated it was important to them to pass the business down to their children, preferring instead that the children make their own decisions about their business careers