Family Business Succession and Delivery Factors: A Case Study of Small Service Business in the Area of Chom Thong District, Chiang Mai Province

Abstract

This research aims to study the factors of family business succession and delivery along with problems, obstacles and solutions; a case study of small service business in Chom Thong District, Chiang Mai Province. The sample were selected by using purposive sampling technique with the following criteria; the business type, the sequence of business transition, preparing business transition to the 3^rd generation descendants, size of business, average revenue per month and years of establishment. There were totally 5 businesses included. This study is a qualitative research, collected data by using in-dept interview through structured interview form. Data were analyzed by compiling and summarizing by topics. The result revealed that the family business succession and delivery factors had 4 factors; consisted of Successor, Family, Entrepreneurship, and Business Transition Strategy, including Knowledge and Understanding of the Business, Work Experiences which Supported the Success of Family Business Succession. It was found that most entrepreneurs highly expected their descendants to take over the family business and there had to be prepared and willing to inherit the family business. If their descendants were willing to continue the family business, it would show the potential of running the family business on their own until the parents were confident, accepted the work of their descendants and delivered their business. The problems in the succession of family business were generation gap, trust in management and freedom in living lives.