Family businesses in terms of their total number, number of employees or income, they generate are a very important factor in the economy of the whole world, and that is why some of the world's largest companies are family businesses. Family businesses are established for various reasons, but everyone has a common desire for survival, growth and development of a family business that can be passed on to the next generation. Family businesses, although they have many shortcomings, are very resilient in coping with the recession and problems in the economy due to the great commitment of the founders, the involvement of the family and the desire for survival. Today, more than ever, the establishment of family entrepreneurship is promoted and encouraged as one of the drivers of the economy and an opportunity to solve many problems in society such as poverty, social discrimination and reducing the number of unemployed who are given many opportunities to start their own business. family. The paper analyzes the work of a family business on the example of T.U.O. "Iko", which is a classic small family business in which, in addition to the owner's family, several workers also work. Although the company was founded in 1992, its beginnings date back to the beginning of the 20th century when members of the Madunić family began to trade and each generation invested in the development and growth of companies whose results are visible today. During almost 3 decades of work, the company has established itself as a successful and reputable company within its business, which like all family businesses contributes to the growth of local and national economy, reducing unemployment and encourages the work of local sports and cultural associations through various sponsorships and improves the quality of life.