The Czech Republic is among the countries that have set a national definition of a family business. Deloitte Legal was involved in its preparation
Family businesses have to be considered a significant element of the Czech economy which is worth supporting. They often operate in regions, where they create additional jobs and maintain regional products, increase local employment rate and work as a prevention of depopulation of the countryside. They also show a relatively high stability and they can therefore support the economy even in times of recession. Until now, however, we have lacked a national regulation that would clearly define a family business as such.