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family business

 

Definitions from WordNet

Noun family business has 1 sense
  1. family business - a corporation that is entirely owned by the members of a single family
    --1 is a kind of
    closed corporation, close corporation, private corporation, privately held corporation

Definitions from the Web

Family Business

Description:

A family business refers to a company or organization that is owned and operated by members of a single family. These businesses are often passed down through generations, and they play a significant role in both the global and local economy.

Senses/Usages:

Sense 1 - General Definition:

As a general definition, a family business involves a company or enterprise where the ownership and management are controlled by family members, typically spanning multiple generations.

Example Sentence:

Smith & Sons is a renowned family business that has been operating for over a century, specializing in furniture craftsmanship.

Sense 2 - Popular Usage:

In popular usage, a family business is often associated with small businesses owned and operated by families, which provide personalized products or services to their local communities.

Example Sentence:

The local bakery is a beloved family business that has been serving freshly baked goods to the community for generations.

Sense 3 - Local Business:

Regarding local businesses specifically, a family business refers to enterprises that are owned and operated by families and are typically deeply rooted in the local community.

Example Sentence:

The neighborhood grocery store is a successful family business that takes pride in sourcing local produce and supporting local farmers.

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