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Family businesses in Hungary

Author

Listed:
  • Dr. Antal Szabó

    (ERENET)

Abstract

The importance of a family can not be substituted by anything else, the family in the society is indispensable. There does not exist an official definition of family businesses or related term in Hungary. So far in Hungary we do not have any official report about the role and economic weight of the family business sector. After the WW II the former flourishing family businesses were simply beheaded;. the former owners were deported, event false charged, strew into jail or forced to emigrate. The paper present the history of family businesses in nutshell, present definition of family business by the European Commission, highlights the story of the oldest family business: the Zwack co. in Hungary. It summarizes the process of creation of the private businesses in Hungary including the family ones. It presents the dilemmas in succession the business. Last but not least it present a few positive family businesses as role models.

Suggested Citation

  • Dr. Antal Szabó, 2012. "Family businesses in Hungary," Proceedings- 10th International Conference on Mangement, Enterprise and Benchmarking (MEB 2012),, Óbuda University, Keleti Faculty of Business and Management.
    • Handle: RePEc:pkk:meb012:79-96
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