Entrepreneurial families and households

Abstract

This paper considers the entrepreneur within the context of the family and the household. We explore how families and households interact with and influence business decisions, and give equal prominence to the role of family strategies as well as to business strategies in understanding the development of the family in business. Household and family are distinctive concepts that partly overlap; a focus on the household allows consideration of economic activities, work and residence, while a focus on the family is confined to issues such kinship and marriage relationships that bind together individuals. The paper explores the relationship between the household and the enterprise, drawing attention to the intricate relationship that exists between the two spheres. Although entrepreneurship researchers have rarely discussed the role of the household in business decisions, disciplines such as sociology and anthropology have provided valuable insights into the nature of household dynamics and kinship. These factors are known to have a profound influence on both the tangible and intangible resources available to entrepreneurial ventures. This paper addresses some of the omissions of the entrepreneurship subject domain by focusing attention on household dynamics, kinship relations and the role of the household in recognizing opportunities and providing resources to new and existing ventures.

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