The purpose of this paper is to explain in more detail the most common form of ownership and management in entrepreneurship - family entrepreneurship and how it differs from traditional entrepreneurship. The connection between the two key concepts that occur throughout the work - family and entrepreneurship - will be explained. The specifics of the relationships that arise between members of the company, who are at the same time family members, as well as the concept of a company as a legal entity will be explained in more detail throughout this paper. In order to better understand the core of family businesses, the resources that are present in family businesses and the lifespan of family businesses will be covered in detail. On the example of the largest family businesses in Croatia and in the world, the impact and contribution of family businesses to the world economy will be presented. Successfully overcoming all obstacles and continuing the growth and development of family businesses is the key to the development of entrepreneurship in any modern economy.