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This paper discusses family businesses. These businesses in their overwhelming majority constitute the Greek market. The idea of studying family businesses emerged from the need to identify the strengths and weaknesses in their operation, to group them by size and to identify the challenges that rise during the process of succession. The family business and succession present two significant points of interest and have – in the past – involved many researchers as well as entrepreneurs and business specialists. The central axis of this paper – the theoretical part – consists of the definition of small and medium-sized family businesses. Entrepreneurship in family businesses and their position in the Greek economy will also be a part of this research. In addition to the latter, European Union’s attitude towards small and medium-sized business is also being studied. Particular emphasis is placed on the issue of succession-transfer of the family business as it is an impediment they must overcome. Many businesses cannot get through the succession which results in their shutdown. After the research, a questionnaire survey is being conducted towards the entrepreneurs of family businesses. Goal of the survey is to point out some of the key elements that are related to these businesses in general such as the relationship between family member, their roles and tasks in the enterprise while also identifying the main difficulties in the succession process such as the duration, the cost and the insecurity caused by fiscal instability. Finally, the findings of the survey are analyzed and we make some suggestions for future research.