First published in 1973, this title examines the development patterns of small businesses. It considers why people found firms; the factors that contribute to entrepreneurial success; problems of management succession and inheritance; the strengths and weaknesses of family firms; the reasons why small firms are taken over; and the social, economic and managerial context of their growth, decline, and revival.With particular relevance to the difficulties faced by entrepreneurs in today’s economic environment, this title advances selective measures to deal with old firms and inheritance, and a wide range of policies to encourage new entrepreneurship.