FAMILY BUSINESS AS A DEVELOPMENT CHANCE OF THE SERBIAN ECONOMY

Abstract

The family business contains certain specifics from the organizational form, financing, inheritance, risk, insurance, and others. Family business is very important because it represents a significant part of every national economy and directly affects the well-being and stability of the whole country, but there is still not enough developed awareness of its impact, so this kind of business is not sufficiently researched. That family business is not sufficiently researched is proved by the fact that in market economies there is not enough literature on this way of doing business, so stakeholders do not have insight into the opportunities it provides, as well as problems and risks that must be considered before starting a family business. The subject of this paper is precisely the origin, development, ideas, advantages, and disadvantages of the family business in general. The goal is to present this idea, which can enable a complete financial and organizational analysis of the business venture, ie what are the initial funds and what works need to be undertaken and performed to further develop the family business in Serbia and beyond.