THE SUCCESS FACTORS MAINTAINING SUSTAINABILITY OF FAMILY BUSINESSES

Abstract

It becomes more important to maintain sustainability of family businesses, which is an indispensable part of world and our country's economy, since it contributes to domestic income, provides employment, local and regional development. The sustainability of business families is equal to keep alive the business by generations with the understanding that aims to solve the problems in the family and management. In this research, firstly the concept of sustainability in family businesses and the life stages of family businesses were explained. Then success factors that affect the sustainability of family business such as family and business system, planning, transfer of authority, professional management were examined in detail.