Definition, Meaning & Synonyms
family-owned
Adjective
/ˈfæm.ɪ.li oʊnd/
Definition
A business that is owned and controlled by members of the same family.
Examples
- Many family-owned businesses prioritize tradition and community involvement.
- Walton Enterprises is a notable example of a family-owned company.
Meaning
The term refers to companies or enterprises that are run by family members, often passed down through generations.
Synonyms
- privately held
- family-run
- kin-owned
