Title: Owner-managers' motivation and the growth of family-owned small and medium-sized enterprises

Authors: Asta Wahlgrén; Aila Virtanen

Addresses: JAMK University of Applied Sciences, P.O. Box 207, 40101 Jyväskylä, Finland ' Jyväskylä University School of Business and Economics, University of Jyväskylä, P.O. Box 35, FI-40014, Finland

Abstract: This paper explores the motivation of owner-managers, the growth of their small and medium-sized family businesses, and how the two phenomena are related. Using qualitative data and building on the perceptions of four Finnish owner-managers revealed three types of motivation - economic, psychological and social. The growth paths of the family businesses studied were unique, and the study illustrates the impact of the various stakeholders on the motivation of the owner-managers and the growth of the businesses. It is suggested that further research focusing on the motivation of owner-managers would prove valuable in explaining and promoting growth in small and medium-sized family businesses.

Keywords: owner-managers; family-owned SMEs; business growth; economic motivation; psychological motivation; social motivation; stakeholders; firm ownership; Finland; small and medium-sized enterprises; family firms; family businesses.

DOI: 10.1504/IJESB.2015.072393

International Journal of Entrepreneurship and Small Business, 2015 Vol.26 No.3, pp.293 - 311

Received: 22 Dec 2014
Accepted: 16 Feb 2015
Published online: 12 Oct 2015 *

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