Family-owned businesses are companies that are owned and operated by members of the same family. These businesses can range from small local shops to large corporations. They often emphasize values such as trust, loyalty, and long-term commitment, which can lead to strong relationships with customers and employees. Many family-owned businesses prioritize passing the company down through generations, ensuring that family traditions and values are maintained. This can create a unique culture within the business, as family members often share a common vision and work closely together to achieve their goals. Examples include Walmart and Ford Motor Company.