This  study  investigates  the  complexity  and  the  evolution  of  the  succession  process  and  its 
impact  on  the  performance  of  the  family  businesses  in  Portugal,  as  the  succession  process 
may dictate the continuance or closure of the family business.
It is true that most businesses in today´s World do reveal a familial dimension; therefore these 
businesses contribute to the wealth and the generation of employment through their leadership 
and entrepreneurial initiatives in every country in the Globe.
The  empirical  analysis  on  the  effects  of  the  transmission  on  the  efficacy  of  the  family 
businesses as well as the effects of the socio-emotional wealth is conducted through a random 
sample  of  family  businesses.  Empirical  research  is  conducted  through  the  mixed  methods 
approach. 
The  present  financial  and  economic  environment  in  Portugal  and  in  Europe  has  to  be 
considered  when  analyzing  the  results.  It  is  outstanding  the  performance  of  the  analyzed 
family businesses, as the Portuguese family businesses face the growing global competitive 
environment, as these businesses also face their internal turmoil, affecting not only the family 
business, but all those directly and indirectly involved.
In the context of this study, it is vital that the competence and aptitude of the next generation 
is  such  as to  generate  within  the  respective  business  environment  through  their  developed 
entrepreneurship,  the  required  results  leading  to  the  positive  performance  to  attain  the 
predetermined  goals,  fundamental  for  the continuance  of  the  family  legacy,  such  as  the 
financial performance in order to guarantee the family socio-emotional wealth in the future. 
It is fundamental for the family business to remain competitive, profitable and a basis for the 
family socio-emotional wealth long after the transmission process onto the new generation is 
concluded, achievable only through the competence and entrepreneurial capability of the new 
generation