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For the purposes of this research 326 questionnaires were collected, which represents 20% of the total questionnaires sent to the companies, which means that despite the large number of submitted questionnaires responsiveness rate is relatively low. Of the total questionnaires returned, after making some data screening 305 left, while 11 were rejected due to insufficient data or technical issues data. Of course, most of the family businesses are in their initial phase, small businesses and therefore much of the research is devoted to just the small enterprise.

3.2 Data gathering

After preparing the questionnaire, it was tested on couple of companies and feedback was received in order to improve and clarify some issues of potential respondents, and consequently valuable changes have been implemented. The relatively low response rate reflects also the attitude of small companies in relation to providing information, which are mainly closed in sharing company information to the outside. The questionnaire was distributed in the period between 13.05.2014 and 19.07.2014, among companies on the whole territory of the Republic of Macedonia. The approach of distributing the questionnaire implied several ways: handing printed questionnaires in person to randomly selected companies; submitting the questionnaire in an online soft copy by email, as well as uploading the questionnaire in electronic format on-line application which can be directly filled in. The questionnaire contains 26 questions, of which 9 are placed on the Likert scale with 5 positions - 1 indicates the lowest level, and 5 - the highest level of occurrence. The remaining questions

Family Business Characteristics And Differences: Some Insights From The Developing Countries

are multiple choice including several alternatives, respondents were asked to choose the best suited option according to their perception.

Whether a particular business was to be classified as “family” or “non-family “was left to the judgment of the person answering the questionnaire, which is very common, considering the extensive literature of defining family business. Of the received 305 business in the sample 207(67.86%) are family business, whereas 98 (32.13%) are non-family business.

3.3. Methodology

Hierarchical logistic regression analyses is used for examining the general characteristics ( demographic structure of family business: size, age, industry, level of formal and informal education of the owner) and specific characteristics ( dimensions and aspects of everyday working: strategies of growth, competitive strategies, life cycles, perception of the internal and external environment, planning, instruments of financing and performance which are considered to be even more important in differentiating family from nonfamily business.

The general model is based upon the research model of Daily and Dollinger (1992), which support the concept that family versus nonfamily businesses can be identified based on firm age, firm size, the strategic profile emphasized by the firm, as well as the use of internal control mechanisms. However the aim of this research is to include a larger scale of general and special characteristics, whereas differences would be tested among family and non-family businesses.Due to the wider reach and number of parameters included in this research and because there is a lack of research including such a number of parameters in one model, the hierarchical logistic regression is used, where in a few phases (so called blocks) are added new groups of variables to the basic model, whereby their influence in consequently tested on the dependent variable. Additional reasons for the application of this method is that hierarchical logistic regression enables to enter independent variables into the regression equation in an order chosen by the researcher. This presents a number of advantages, such as allowing control for the effects of the covariates on the results and take into account the possible causal effects of the independent variables, when predicting a dependent variable.

After the preliminary testing and executing of a number of iterations of the above mentioned variables in a hierarchical regression and testing the necessary assumptions of the logistic regression (Linearity, Independence of errors and Multicollinearity), 7 of the total 13 variables remained in the model.

The final model is divided in three blocks. In the first block are placed the general demographic characteristics: size, age, industry and level of education of the owner. These variables are considered as control variables, which at a large scale should determine the behavior of the rest of the variables within the model. In the second block the growth strategies and competitive strategies are placed, whereas in the third block business performance is added. It is expected that the influence of business performance will be largely determined by the second block if variables, i.e. growth strategies and competitive strategies as the most immediate predictors of business performance.

3.4. Operationalization of variables 1. Size of company

The size of the company can be measured in different ways and therefore it could differ in various studies. One of the most common indicators used for determining the size of the company is connected to the number of employees. Furthermore within our research the company had to state the exact number of employees and therefore before proceeding with further calculations values had to be logarithmically transformed in order to be normalized for further use.

2. Age of the company

The age of the company is a very common variable which is measured by the years of existence. Therefore within this study companies needed to provide the number of years the company exists presented as a continuous variable. Similar to the variable related to size this variable needs to be logarithmically transformed as well.

3. Industry

Related to the industry most research evolves around categorizing the company in different groups. This research very similar provides five options where each company needs to choose from in order to determine where it belongs to. The respondents have been asked to choose from the following options: production, services, trade, construction and other option not stated within the questionnaire.

4. Formal education of the owner

The owner strongly influences the overall development of the family business. Therefore it is considered that the level of education determines the family business in respect their performance. Within this research respondents need to provide information concerning the owner’s education by implying their level of education from the five categories provided within the questionnaire (primary education, secondary education, university education, master degree, doctoral degree).

5. Informal education

The owner beside his formal education has often acquired different types of informal education, such as different trainings, qualifications and certificates which could enhance his skills and abilities. The level of informal education is measured by the average value of the three aspects each measuring the compliance of the respondents by Likert scale from 1 to 5. The highest score determines the highest level of informal education.

6. Financial instruments

The variable related to the financial instruments used for financing or considered to be used in the future is measured by five sources of possible financing, which most commonly is mentioned in the literature. The questionnaire proposes companies to choose from: credits in banks, withholding profit, loans from relatives or friends, business angels, venture capital or other not mentioned.

7. Stage of development

The stage of development of the company, as a variable is categorical and surveyed in companies by stating at what stage of development the company finds itself. The possible categories are: initial stage, survival, success stage, take-off stage and resource maturity.

As a growing company and going through different stages, transformation is needed, after transforming the company goes into the next phase of configuration and growth (Churchill, Lewis, 1983).

8. Growth

Family Business Characteristics And Differences: Some Insights From The Developing Countries

Growth as a variable is determined by the average of the values provided by a Likert scale from 1 to 5 considering seven aspects of growth. Respondents needed within this variable to provide information related to the growth of the company concerning the main indicators of growth such as: income, market share, quantity of products and services, the production capacity, the product and service portfolio and number of employees.

Naturally 1 determines the lowest scale and 5 the highest scale of growth.

9. External constrains

Environment plays a significant role in the company, while the external constraints are presented in the form of continuous variables that may have value in the range of 1 to 5.The scope of this variable indicates more aspects of the external environment, which may occur in the form of constraints. Finally from the values attained to seven constrains (lack of employees, fluctuations of demand, financing, legislation, political situation, growth of input prices, growth of competition) an average value is calculated which is used in further analysis.

10. Internal constrains.

The internal as the external constraints are represented in the form of continuous variables that may have value in the interval from 1 to 5, 1 representing the lowest and 5 the highest value. Moreover the average values are calculated of the 6 items that may occur as internal constraints. The resources in the enterprise largely determine the internal opportunities and constraints of small enterprises.

11. Competitive strategies. The choice of strategy is one of the central decisions, presented as a categorical variable, where companies can choose between the so-called generic strategies: cost leadership, differentiation, focus on cost leadership and focus on differentiation of products or services. This variable reflects the long-term orientation of the company towards achieving competitive advantage. Respondents can choose between the four generic strategic of Porter and also a combination of them.

12. Growth strategies

For the realization of growth, companies can choose between the following types of strategies for achieving growth: expanding the existing market, developing new markets, develop new products to market, diversification in business or out of business in which the company operates, modernization, acquisition and purchase of parts of existing enterprises. The implementation of this strategy shows the commitment and attitude of the company in terms of growth. This is a categorical variable whereby the respondents were allowed to choose a combination of these strategies as well.

13. Planning

The planning in the companies could be determined by various items which again will be evaluated according to the Likers scale from 1 to 5 (1 being the lowest intensity 5 the highest). The various statements receive their mark which will result in a final average grade used in further analysis. The variable is presented as a continuous one calculated by the grades received for the various statements.

4. EMPIRICAL ANALYSIS AND FINDINGS