Identifying appropriate criteria for evaluatingsuccess is acommon problem in the analysis of small family businesses.Definitions and measurement of success are ambiguous due to subjective biasesand a variety of personal goals and company objectives; definitions andmeasurements are not comparable...

The problems associated with measuring success in small businesses are primarily caused by a lack of comparable data due to the ambiguity of "success" and by subjective biases. Success evaluation is dominated by the estimates of business owners, who tend to overestimate overall success and...