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This chapter critically examines the unique challenges and opportunities faced by family-owned startups in emerging economies, a topic that has received limited attention in existing literature. Recognizing the high failure rate of startups, particularly in family firms, this study seeks to understand the factors contributing to their success or failure. Employing a qualitative analysis, the chapter explores various economic, legal, and cultural dimensions that influence these businesses. It provides a comparative perspective, drawing insights from various emerging economies to identify patterns and differences in the experiences of family-owned startups. The chapter aims to fill the knowledge gap by offering a comprehensive view of the success and failure dynamics in family-owned startups, with a focus on strategic, managerial, and operational aspects. This approach offers valuable insights for both academics and practitioners, aiming to guide future research and practical interventions to support the sustainability and growth of family firms in these dynamic markets.

Family firms play a crucial role in global entrepreneurship, especially in emerging economies, contributing significantly to job creation, income generation, innovation, and economic growth. As emerging markets expand rapidly, these business families and their enterprises are poised to drive superior entrepreneurial activity in the coming decades (Baltazar et al., 2023; Le Breton-Miller & Miller, 2018). Rooted in familial ties, traditions, and local contexts, these firms exhibit distinctive entrepreneurial behaviors. Understanding these dynamics is pivotal as research increasingly explores the diversity among family-owned businesses. Factors such as familial dynamics, succession planning, and institutional environments profoundly shape their strategies and decision-making processes. This study delves into these complexities, highlighting the unique challenges and opportunities faced by family firms in emerging economies. Insights gained can inform policies and practices aimed at nurturing entrepreneurial ventures in these dynamic contexts.