Family Entrepreneurship in the System of Small And Medium-Sized Enterprises: The Legal Nature and Ways of Development

Abstract

Family business has traditionally been considered as the most common type of business that quantitively prevails in developed market economies. The paper analyzes family business, its role in the system of small and medium-sized entrepreneurship of the Russian Federation, individual approaches to the concept and essence of family business. The author scrutinizes the legal nature of family business and features of family entrepreneurship in the Russian Federation, determines features of family entrepreneurship and a legal status of a family enterprise. Also, the paper considers the prospects for the development of family entrepreneurship in the Russian Federation and draws a conclusion that family business should be allocated into an independent type of business activity; moreover, family business requires special normative and legal regulation.