Capital usage in family farm businesses

Abstract

Abstract Purpose The purpose of this paper is to explore the use of social, cultural and symbolic capital alongside economic capital, according to Pierre Bourdieu, in small family businesses. The paper demonstrates that social, cultural and symbolic capital, play an important role in maintaining the family farm business and ensuring its survival. Design/methodology/approach Ethnographic case studies were selected using theoretical sampling techniques and a variety of data collection tools were used, interviews and participant observation, to construct the contextual and historical elements of each case. Findings The results, though highly case specific, indicate that: social networks (social capital) are important to farmers and their families, and these networks have been weakened over the years. Knowledge transfer is crucial to successful succession in the family business and as such cultural capital (knowledge, skills, qualifications, etc.) is retained within the business and accumulated from wider fields through educational qualifications. Symbolic capital is highly important to farmers and their families and could enlighten family business researchers as to why family farm businesses manage to survive the transition from one generation to the next. Research limitations/implications This paper provides insights into how family businesses use non-economic resources to pursue survival strategies. It also demonstrates the importance of exploring all family members, however small their contribution is to the business. The paper highlights how the different relationships between family members enable and hinder capital usage in the family farm business. Originality/value This paper explores family farm businesses from a sociological perspective to shed light on how they survive passing between generations, unlike many other family-owned businesses.

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