Assessing selected determinants of the success of small and medium-sized family businesses

MBA (Business Administration), North-West University, Potchefstroom Campus, 2015South Africa has a social capital economic system that establishes various opportunities for individuals to start their own businesses, this creates a climate for entrepreneurs to explore the business market and start their own business. If family businesses are that important and fundamental to the sustainability of countries it is definitely relevant to asses and monitor these businesses over a wide range of issues. The field of this study falls within the subject discipline of entrepreneurship and focuses on gaining insight into small and medium-sized family businesses. The study has not restricted to a particular trade and all participants who fall under the definition of Ibrahim and Ellis (2004: 5) have been recognised to take part in this study. In this study the author set out to determine the causes affecting the success of family businesses, as well as identifying a few variables that had to be measured to better understand their impact and influence on the success of family businesses. The author also examined other aspects regarding the subject, in order to get a better understanding concerning family businesses, and to understand what they have to offer. The definition that has been used in this study is supplied, as well as the advantages and disadvantages regarding family businesses. This has been done to ensure that the researcher understand what type of business constitutes a family business. The empirical study has been conducted by means of a field study, using a structured questionnaire as the main component. The purpose of the literature review was to gain insight into selected determinants of family business success, according to a structured questionnaire developed by Prof. Stephan van der Merwe (NWU).Master