noun
family-run business; family management
Refers to a business where ownership and management are concentrated within a single family, often implying a closed, insular structure.
あの会社は同族経営で、社長の息子が次期社長になるらしい。
That company is family-run, and it seems the president's son will be the next president.
同族経営の中小企業は、後継者問題を抱えていることが多い。
Small and medium-sized family-run businesses often face succession issues.