CeFEO Research seminar

GenZ and the (uncertain) future of family business

Kajsa Haag and Bart Henssen (presenters)

(co-authored with Julia Suess-Reyes)

March 3, 12:00-13:00 CST

B6046 and Zoom

Zoom link: http://cefeo.se/zoom

ABSTRACT: For family businesses to continue over time, new generations must accept the task of continuing their legacy. This is often a significant concern for current family business leaders, as trans-generational entrepreneurship has demonstrated positive outcomes for both businesses and society. However, considering the societal level changes in job mobility and recent reports on the career aspirations of young people, the future of family business seems to be at jeopardy. To gain insights into the future of family business, our research focuses on a new generation whose intentions are crucial, yet quite unknown. We interview family members belonging to the societal generation called ‘GenZ’, born 1997-2013, to explore their intentions (or lack thereof) for joining their family’s business. We respond to calls for understanding the “modern family” in family business research and explore the concept of ‘generation’ from a sociological perspective as a category of societal belonging.