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Family businesses as the heart of South East European economies

A comprehensive research report from the European Commission highlighted family businesses as one of the crucial elements of economic systems in Europe and in South East Europe in specific. For example, in Turkey, it is estimated that 95% of SMEs and well over 90% of all enterprises are family business, while in Croatia family business account for roughly half of employment in the private sector.
 
Unlike traditional businesses, family business have the added benefit that the vast majority of business decisions is geared towards maintaining a sustainable business, not for immediate profit. As such, family businesses tend to be much older than ordinary business and represent a crucial element in stabilising economies.
 
However, the report also outlines that one of the main negative characteristics of a family business is its reliance on emotional and informal decision making, rather than established management practices. This is partially due to the fact that many family businesses are not aware of managerial and entrepreneurial education. SEECEL in its work will continue to spread awareness of enterpenurial learning and education as not only a key competence but also an element of basic literacy. 

Report for the Republic of Croatia
Report for the Former Yugoslav Republic of Macedonia
Report for the Republic of Turkey
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