TAILIEUCHUNG - OVERVIEW OF FAMILY–BUSINESS–RELEVANT ISSUES: RESEARCH, NETWORKS, POLICY MEASURES AND EXISTING STUDIES

This report sets out the current state of knowledge on the economics of creativity and design and their role in driving business performance and productivity. It was commissioned by the Chancellor in his 2005 Budget. The Department of Trade and Industry undertook to carry out a study into the 'value and productivity impact of creativity and design in businesses, helping firms to identify how creativity can improve their performance'. At the same time, Sir George Cox was asked to review how best to support and develop the creativity of small and medium sized enterprises in the UK | EUROPEAN COMMISSION ENTERPRISE AND INDUSTRY DIRECTORATE-GENERAL Promotion of SMEs competitiveness Final report of the Expert Group overview of Family-Business-Relevant issues research networks policy measures and existing studies November 2009 Legal Notice This project was carried out by the European Commission and experts in the field of family business appointed by the national authorities under the Multiannual Programme for Enterprise and Entrepreneurship coordinated by the European Commission s Directorate-General for Enterprise and Industry. Although the work was carried out under the guidance of Commission officials and by experts appointed by the national governments the views expressed in this document do not necessarily represent the opinion of the European Commission or the participating countries. Reproduction is authorised provided the source is acknowledged. Further information European Commission Directorate-General for Enterprise and Industry Unit Crafts small businesses cooperatives and mutuals Fax E-mail Entr-Craft-Small-Business@ Information on other projects Information on other projects jointly carried out by the European Commission and by national administrations that address issues of promoting the competitiveness or European SMEs can be found on the web at the following address http enterprise policies sme index 2 TABLE OF CONTENTS EXECUTIVE 1. . Aim of the project and . Result of the project and sources of 2. DEFINING A FAMILY BUSINESS .8 . Characterising family businesses .8 . A European definition of a Family Business .9 3. . Unawareness of policy makers of the specificities of family businesses and their economic and social contribution .12 . Financial issues . 13 . The importance of preparing business transfers . Balancing family ownership and business aspects Family . .

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