ИСТИНА

Family businesses are a significant part of the world economy. This type of business has already become an important source of employment, and its economic relevance affects more than half of the national GDP of many economies around the world. The main purpose of this article is to present evidence related to the willingness of students to integrate their parents into their new business and make it sustainable over multi-generations. Thus, we believe that entrepreneurs will have more opportunities to reduce their initial risks by receiving some valuable direct support from their families. The data for this study has been collected by/in four large universities (one from Bulgaria, one from Romania, and two from Russia) as part of the international INTERGEN project. The study uses a standardized questionnaire for students, translated into each language, which allows for comparative analysis. The relevance of the results obtained is essential for local socio-economic development. For young people, it is very important to understand the personal significance and prospects of self-realization when engaged in a family business. Academic research on family business issues can contribute to developing this particular type of entrepreneurship, and to strengthening of the family as an important institute by increasing family income. In addition, the COVID-19 pandemic has also boosted the importance of family businesses as a fortress for survival in times of crisis and unemployment.