Abstract
Since family businesses have huge amount of family capital investments in their businesses ,
FBs are concerned about their long term survivability and prospects (Williams Jr., Pieper,
Kellermans & Astrachan, 2018). Hence, the next generation in family business has become
an important issue. The next generation is regarded as the future of family businesses since
their potential and inclination to contribute to the firm’s success is pivotal to the continuation
of the family business (Bernhard and Labaki, 2020; Jaskiewicz, Neubaum, De Massis and
Holt, 2020). Past studies show that the prospective successors have decreasing intention to
join the family business which highlights the scarcity of understanding on the thought process
of the next generation members (Garcia, Sharma, De Massis, Wright & Scholes, 2018
Commonly researchers study entpreneurship in the light of new venture creation. In spite of
this emphasis, creating a new firm is not the sole way by which individuals can turn into
entrepreneurs. Along with this they have the choice of taking over an already existing
business, including a FB if these individuals come from business families. Thus, the mode of
entry differs on the basis of the decision of entry. Yet, there is little known about the elements
determining the mode of entry chosen by the next generation in spite of its significance on
entrepreneurship research and among policy makers. This study aims to fill this gap.