Internationalization of family businesses: Factors and forms of entry into foreign markets

This thesis explores the phenomenon of family firm internationalization of businesses located in the Czech Republic. This subject remains relatively unexplored due to an insufficient definitional framework within the Czech legislation. The internationalization of family businesses has gained increased academic attention, mainly in understanding how family dynamics uniquely influence business strategies. The theoretical part of this thesis examines family business theory, highlighting the unique resources and characteristics that differentiate family-owned businesses from their non-family counterparts. It also delves into internationalization processes, specifically focusing on how the aforementioned theories apply to family businesses. The empirical part of this thesis employs thematic analysis through semistructured interviews conducted with five Czech family firms. The research aims to uncover family firms’ perceptions and strategic considerations regarding international markets and how their familial characteristics impact their internationalization decisions. This thesis contributes to the academic field by providing insights into the interplay between family business identity and global business operations, thereby enriching the theoretical and practical understanding of family firm internationalization. The research confirms that family businesses have a strong interdependence between family, firm, and ownership, which influences their strategic decision-making. Family businesses prefer an incremental internationalization process, starting in geographically and culturally close countries.