Nurturing and Transferring Entrepreneurship in Thai Business Families

Abstract

This research aims (1) to investigate patterns and phenomena of entrepreneurship formation in Thai business families; (2) to investigate practices of parent (the founders/predecessors of the business family) in nurturing and transferring entrepreneurship to their family members (successors); and (3) to build a model for nurturing and transferring entrepreneurship in Thai business families. The Semi-structured interview was used for collecting data from key informants who are potential successors of Thai business families. Eighteen potential family business successors participated in the interview. The study revealed that entrepreneurship in the Thai business families has been emerged since childhood developmental stages. The key practices of the Thai business families used for creating family entrepreneurship are: (1) Parental role modeling; (2) Parental family business practices; and (3) Parental support. However, the study disclosed and indicated that the founder or predecessor should build the family infrastructure before implementing any key practices. In this regard, the intellectual and mental factors were found as key elements. According to the findings, to be effective, these two factors must be created simultaneously.

Parents’ labour force participation and children’s involvement in work activities: evidence from Thailand

“…In terms of housework, the substitution (income) effect prevails among children whose mothers or fathers are informally (formally) employed. The positive relationship is consistent with social expectations that children should help at home and in family enterprises (Naksung & Piansoongern, 2018). Other factors that motivate parents to work informally can also propel parents to have their children work as unpaid family workers or paid labourers to augment household labour and income (ILO, 2013).…”