Family Business

Being a 5th generation entrepreneur, I understand the value of transferring tacit knowledge relating to business operations. Family business research emphasizes using trusted advisors in the succession process, which is relatable to entrepreneurial exits regarding the attempt to navigate and rationalize the unknown factors within the exit process. In both family and nonfamily businesses, there is a mounting support that networks play a key role in collective decision-making, with considerable contributions coming from the role of the spouse in the decision-making process. This review highlights the need to explore the role of networks in the entrepreneurial exit process as they may influencers in exit decision-making that translates into alternative or unplanned results. My research on family businesses focuses on the factors surrounding succession, continuity of the business, and successor business understanding. I am currently exploring succession within the lobster fishing industry in the Republic of Ireland, Northern Ireland, and Prince Edward Island (funded by the Ireland Canada University Foundation).

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