A family business is a commercial organization owned and operated by members of the same family. These businesses can range from small local shops to large corporations. Family members often play key roles in management and decision-making, which can create a strong sense of loyalty and commitment to the business's success. Family businesses are significant contributors to the economy, providing jobs and fostering community ties. They often prioritize long-term stability over short-term profits, which can lead to unique challenges and advantages. Examples of well-known family businesses include Walmart, Ford, and Coca-Cola.