RESEARCH ON THE IMPACT OF FAMILY BUSINESSES ON EMPLOYMENT IN AZERBAIJAN

Abstract

Under market economy conditions, family businesses, which account for more than 60 percent of global employment, play a significant role in ensuring social welfare worldwide. The positive reputation of family businesses, based on establishing strong trust-based relationships with customers, as well as their substantial contribution to the socio-economic development of regions through the mobilization of local resources, makes the study of these businesses highly relevant. The main objective of the research is to assess the impact of family businesses on employment in Azerbaijan.

In the article, literature review, induction, deduction, analysis, synthesis, and questionnaire survey methods were employed as research methods. The findings indicate that family businesses play an important role in providing employment opportunities for vulnerable groups of the working-age population and low-skilled individuals.