How entrepreneurial motivation can be promoted in business families

Entrepreneurial families are increasingly faced with the challenge of persuading the younger generation to make a long-term commitment to the family business. The desire to pass on ownership and leadership to the next generation is firmly anchored in their DNA. But how can the entrepreneurial commitment of the NextGen be specifically encouraged? What measures strengthen the willingness and interest in taking responsibility for their parents' company?

The new practical guide "Motivation in the business family", published by the WIFU Foundation, provides answers to these questions. The team of three authors sheds light on the motivational factors of the next generation from a sociological and psychological perspective. In addition to incentives such as love, power and money, the focus is primarily on personal and situational aspects: emotional attachment, personal goals, interest and enjoyment in learning as well as the expectations and reactions of the business family.

The contents of the practical guide are based on extensive research results and findings from workshops with over 50 members of business families. With practice-orientated reflection questions and exercises, it offers business families an effective tool to motivate young members to take responsibility for their family, property and business.

"The transgenerational transfer of ownership and responsibility is at the heart of family businesses. But this can only succeed if the members of the business family see themselves as active creators and are motivated accordingly," explains Heiko Kleve, first author of the reference guide and Managing and Academic Director of the Witten Institute for Family Business (WIFU).

"Commitment to the family business must not only be perceived as an obligation, but should be intrinsically motivated. Our reference guide shows how this can be achieved," adds Tom Rüsen, co-author and Managing Director of the WIFU Foundation.

The practical guide described above and other WIFU publications are available free of charge on the WIFU Foundation website. For further information, please contact Dr Ruth Orenstrat at ruth.orenstrat@wifu-stiftung.de or +49 2302 8898303.