family business, a business owned and run by family members, ownership, the fact of owning something, succeed, to do well and reach goals, succession, the act of passing something (e.g., business) to the next generation, governance, the way a business is directed and controlled, growth, the process of becoming larger or more successful, emerging market, a country or region whose economy is growing fast, professionalise, to make a business more formal or expert, transition, the process of changing from one state to another, long‑term, lasting for a long period, value creation, making something more valuable, diversify, to add different types, products or markets, debt, money that a business owes, prudent, careful and wise about how you act, conflict, a disagreement or fight between people, mission, the purpose or goal of a business.

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