International Scientific Journals
of Scientific Technical Union of Mechanical Engineering "Industry 4.0"

On a global scale, family businesses are considered to be a key element of the local and national economy. The role and importance of family business stems from the fact that this business is an important source of economic growth and prosperity. It makes an important contribution to the formation of gross domestic product. At the same time, family business contributes significantly to employment growth and job creation. In addition, this business contributes to the socio-economic and social development of the local, regional and national level of the country. In addition, it is important to emphasize that the role and importance of the family business is also determined by the fact that it is regarded as an essential basis for training entrepreneurs. This importance is due to the fact that the family business develops an entrepreneurial spirit and a new business culture. As a result of the analytical study of the nature and characteristics of the family business in the country, recommendations and guidelines for its promotion have been presented