Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

family business

According to the Family Business Expert Group, an enterprise of any size is a family business, if:

“1) The majority of decision-making rights is in the possession of the natural person(s) who established the firm, or in the possession of the natural person(s) who has/have acquired the share capital of the firm, or in the possession of their spouses, parents, child or children’s direct heirs;

2) The majority of decision-making rights are indirect or direct;

3) At least one representative of the...