Comparative Analysis of Legislative Support for the Organization of a Family Business
Comparative Analysis of Legislative Support for the Organization of a Family Business

Author(s): Ivan Stamov
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Economic policy, Welfare systems, EU-Approach / EU-Accession / EU-Development, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: family business; family enterprise; legislative support; comparative analysis; determination of legal status; Republic of Moldova; legislative definition of legal status; international legislation; economic development
Summary/Abstract: Family business is a unique phenomenon that allows you to solve several important tasks at once: attracting the younger generation to work, mentoring and succession, ensuring the financial independence of the family. It should be noted that today the family business does not have an official status in the legislation of most countries of the world, which is an acute problem in obtaining state support measures and a significant obstacle to the development of family entrepreneurship as a separate institutional unit of the economy. In this regard, the relevance of the study is determined by the need to introduce into scientific circulation and legislation the concept of "family enterprise" as a business entity and the legislative definition of its legal status. The paper presents research of various methods of legislative support for family businesses. The study suggests a number of measures to support family business. The relevance of the research is determined by the need to introduce the concept of “family business” into scientific circulation and legislation as a business entity and the legislative definition of its legal status. The analysis of the legislative framework allows us to identify problems and improve laws in order to create a favorable environment for the development of family business. The research devoted to the analysis of legislative support for family businesses also allows us to assess the effectiveness of various support mechanisms, such as preferential tax conditions or training and consulting programs. The study provides successful examples of legislative support, which represent models on which other countries and regions can learn and learn from experience. Conclusions and suggestions are formulated.

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