Entrepreneurship is one of a number of factors that could account for the success of a family business. There are critical success factors that are important for the success of most businesses regardless of their size and ownership. Understanding the nature of both entrepreneurship and business success factors can help one to assess the extent to which family businesses might be able to make a distinct contribution that larger and/or listed companies would find more difficult, and whether, if governance issues are addressed, entrepreneurship could lead to reinvention, give family companies a new purpose and create additional opportunities for family members.