Macro-social factors of business dynasty continuation in modern Russia

The business dynasties in Russia are very young since the history of their development started at early 1990's. The purpose of the article is to identify macro-social factors that determine intergenerational continuity in Russian business sphere. This pattern is typical for the former soviet republics. However, some Baltic countries do not face the family continuity problem because their entrepreneurship has passed the transition period. Russian economic realities show some limitations from one side, but from the other side ensure some processes providing continuity and entrepreneurship traditions development. As the result of our analysis, we found out the constructive and destructive factors of business dynasty continuation. As the destructive factors, we found the instability of economic situation in Russia, legislation limitations, the case of family entrepreneurship legislation and institutional absence, owner's low confidence in the legislation system, the crisis of the institution of family. As the constructive one, we consider institutionalization of business education and development of family business consulting programs in Russia. The identified factors of institutional development according to the governmental entrepreneurship development programs in case of economy stabilization may provide business dynasties as the integral actors of Russian economy.