This study proposes a key reading of the phenomenon of the family business and of its relationship with sustainable and CSR-oriented strategies focusing on the specificities of family SMEs relative to values, culture and relationships with the territory (local context). The purpose of the current research is to demonstrate that the consolidation of authentic and durable relations among the family business, the stakeholders and the local context depends on the presence of shared values which are the fruit of a given territory’s civic traditions and are the expression of the culture of the socio-economic environment in which they are embedded