Examination of innovation and effectiveness in the case of family businesses

Abstract

The role of family businesses is significant in both the Hungarian and European Union economies. The issue of innovation is crucial for the survival and development of family businesses. For the development of family businesses, which are typically small and medium-sized enterprises, the willingness to innovate is essential. Therefore, in the course of my research, I examine how innovativeness is characteristic of family businesses, do SMEs plan to implement some kind of innovation in the near or distant future, and if so, from what source do they intend to finance it? In the course of my research, I will also investigate whether there is a relation between the innovation activity of enterprises and the efficiency of enterprises. The effectiveness of family businesses is examined by various side, not only financial, but also the effectivity achieved in the field of customers, for example.