Sirmon
and Hitt (2003) propose that family firms have five
unique resources that provide them with potential
advantages over nonfamily firms; these resources are
human capital, social capital, patient capital, survivability
capital, and the governance structure attribute.
Dyer (2006) highlights four resources of family firms
that may influence the family effect: human capital,
social capital, family branding, and physical/financial
capital. In this study, three capabilities of small family
firms are discussed: the overlapping responsibility of
owners and managers, the sustained presence of family
shareholders, and entrepreneurship.