family business

1. 1.

   a corporation that is entirely owned by the members of a single family

   Broaderclosed corporation

Questions about family business

What does family business mean?

family business means "a corporation that is entirely owned by the members of a single family".

Is family business a common word?

family business is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.