Who is more sustainable? Family business or non-family business? Czech evidence

Abstract

The aim of this research was to find out whether family businesses create better opportunities for their economic sustainability in comparison with non-family businesses. That is, whether family businesses are more responsible in preparing for crises than non-family businesses. Having a sustainable business means being prepared for potential threats of all kinds. Research was carried out in 2019 on a sample of 2300 family and non-family enterprises. On the basis of statistically processed results, a minimum of significant differences in preparation for the crisis was identified. Even the basic hypothesis about a more responsible approach by family businesses to prepare for the crisis could not be accepted. It could not be noted that family businesses are building better conditions for their economic sustainability. The implication for praxis is to encourage owners to involve the family more in the preparation for crises, including development of formalised tools. Predetermined tools will help in solving crises that threaten the source of livelihoods of the whole family. The comparison of family and non-family businesses in this area, as yet unexplored, has the potential to contribute to the deepening of research in both crisis management and family business, which is the main contribution to the theoretical field.