Family Business: Back in Fashion

• Main Author: Singapore Management University
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2013
• Subjects: family-owned businesses; branding; Business
• Online Access: https://ink.library.smu.edu.sg/pers/25; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1015&context=pers

Family businesses have come back into style, says Joseph Astrachan, a professor at Kennesaw State University who specialises in family business. Astrachan’s research has found that in today’s economy, consumers tend to feel a personal connection with family-owned companies. When consumers understand that there are real people behind the brand, they find it easier to relate to the company. "Family businesses tend to be more trusted by consumers," he told Perspectives@SMU on the sidelines of the launch of the SMU Business Families Institute.