8. Family Perspective on Entrepreneurship

Discua Cruz and Basco provide from a holistic perspective a nuanced understanding of the effect of the family on the entrepreneurial dynamics that lead to the creation of new firms and the development of existing firms. The authors highlight three schools of thought: entrepreneurship by families, embedded family entrepreneurship, and entrepreneurship across generations, which brings forward the complex interaction among family, entrepreneurship, and established family businesses. The authors employ these schools of thought to explore and map current knowledge on the effect of family on entrepreneurship through three different levels: individual, group, and firm levels. By considering the inextricable connection of family and family business literature with entrepreneurship, the authors highlight previous and novel studies, interpret existing findings, and suggest a future research road map.