The global family business: Challenges and drivers for cross-border growth

Globalization has become an imperative and is no longer avoidable as a strategic choice for family businesses. However, globalization strategies are far from the norm among small and medium-sized family enterprises. This article reviews the main drivers for globalization, highlights the distinct characteristics of family businesses that may enhance or constrain their global expansion, and provides a framework for strategically evaluating business capabilities and global market opportunities.