“Journal of small business and enterprise development article gives information about the comparison of micro versus small family business.
They have used, eight countries to do the research. The article teaches about the use of information from a large international joined of 601 family business, concerning certain critical administrative attributes (Bjuggren and Palmberg, 2010, Nordqvist and Melin,2010). On the other hand, the article informs that in the USA and Canada, an estimation of 80 to 90 percent of all business are family business (American Management Services, 2011; Carsrud, 1994; Kets de Vries, 1993). On the other hand, the article also informs that an estimation characterize 35 percent of fortune 5000 firms as family owned (Carsrud, 1994). Also, data from most different nations give a similar picture (Eddy, 1996; Morck and Yeung 2003). The article likewise explains that the reasons for this investigation, a family business is one in which relatives overwhelm the proprietorship and administration of a firm and see their business as a family business.
Besides, the research study recognizes all first-generation family firms.The “Journal of small business and enterprise development” clarify that the US small business administration utilizes most extreme size definitions to decide if a firm is an “family business” and therefore qualified for small business administration assistance and financing programs, however these definitions are not steady.The journal also, includes that most research meanings of “small business “would exclude organizations at the high end of small business administration eligibility.
Also, in Europe, better and more research helpful definitions exist. The Europe commission has set up uniform classes for all business in the European Union. Here is the list; Micro enterprises have between 0 to 9 employees, small enterprises are between 10 to 49 employees, medium-sized enterprises are between 50 to 249 employees and large-sized enterprises are 250 or more employees (Journal of small business and enterprise development, 2015). These uniform size classification, inquire about information from organizations in a variety of industry can be combined and analysed. Finally, for practitioners and consultants the discoveries of this study should empower family business owner / managers and their advisors, to more likely comprehend the conceivable effects of moving from a “micro” levels to a “small” size level and along these lines prompt more effective family business management.