Succession Issues in Albanian Family Businesses: Exploratory Research

Abstract:

Family businesses represent one of the oldest forms of business organizations. Family businesses are an important source for generating jobs generation after generation in most countries, including transition ones. The main focus of this article is on succession in the family business, which is seen as the biggest challenge faced by companies in the long run.

Succession in general terms can be defined as a replacement or transfer of the management and control of the business from generation to generation. The purpose of this article is to share findings related to succession in family businesses in Albania. In order to gain a better picture of the current situation, problems and perspectives facing families with respect to succession a survey was conducted. The questionnaire was distributed physically and through e-mail.

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