Transform family businesses into family businesses

• DOI: 10.22533/at.ed.2163142316065

• Palavras-chave: entrepreneurship, family business, promote, state economies, transform.

• Keywords: entrepreneurship, family business, promote, state economies, transform.

• Abstract:

  The purpose of the research was to analyze the benefit of transforming family businesses into legally constituted family businesses that allow the economic growth of families, the generation of sources of employment and access to external financing, with the aim of maintaining them over time. This article has been developed from a descriptive vision, it has been supported by statistical sources of studies carried out between 2018 and 2020, from official pages of both Ecuador and America, it presents basic concepts of different authors on entrepreneurship that allows determining its importance in the countries' economies and their transition in the formation of legally constituted family businesses. These, together with the Organic Law on Entrepreneurship and Innovation, reinforce the theories that promoting family businesses will allow states to boost their economies. Finally, the financing options in both the public and private sectors that entrepreneurs can have access to finance their working capital and improve their productive assets that allow them to optimize their processes and provide goods and services in the market were mentioned. of better quality and with a competitive price, remembering that the formation of family businesses must always go hand in hand with innovation and the permanent training of their personnel in order to consolidate themselves among consumers.