THE POTENTIAL OF FAMILY BUSINESSES IN TERMS OF SOCIAL AND ECONOMIC SECURITY
THE POTENTIAL OF FAMILY BUSINESSES IN TERMS OF SOCIAL AND ECONOMIC SECURITY

Summary/Abstract: Family businesses, with their unique structure and culture, can play a pivotal role in simultaneously building and maintaining both economic activity and social capital. According to Janusz Gierszewski's concept, social security is largely dependent on the social capital formed through social values and norms. In family businesses, it is this social capital and family values that are the source of competitive advantage, shaping their identity and ensuring the multigenerational endurance of the family business. The distinctiveness of family businesses is also significant from a research perspective, as the established functioning patterns and structures of SMEs do not align with those of family businesses, necessitating a deeper exploration of the dynamics and obstacles to the development of family businesses. The aim of the article was to identify and systematize the problems of family businesses in relation to their organizational, legal-institutional, financial, and psychological security, and to attempt to answer whether the identified problems are merely challenges that the company can overcome independently, or if they represent a serious barrier to the development of family businesses, insurmountable without external assistance. To answer these questions, we conducted qualitative and quantitative research among family businesses in the Pomeranian Voivodeship participating in the 'Succession with Success' project. The research findings confirmed the long-term approach of family businesses to conducting business and the specificity of their decision-making processes. The research also revealed the particular role of the leader in the enterprise development process and the importance of social capital in shaping its success. It also identified certain management gaps in family businesses that could hinder their further development and economic security. These include a casual approach to procedures, a dominant management model based on interpersonal relationships, and a lack of knowledge about modern management methods. The research results indicate the need for multidimensional support for family businesses in management and the need for in-depth research in the field of social and economic security in the local environment. The practical value of the article lies in formulating recommendations for shaping appropriate tools to support the development and economic security of family businesses, which should be addressed to entities creating the local and institutional environment of enterprises, especially local government bodies.

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