Purpose: The aim of the paper is to identify the methods of succession management in family companies, and to determine what models of succession have developed in Poland in the thirty years since the 1989 breakthrough. Design/methodology/approach: This article is based on qualitative research. Since 2017, in-depth qualitative interviews with entrepreneurs working in the profession for at least twenty years and representing the micro-enterprise sector as well as small and medium-sized businesses have been continuously conducted across the country. The interviews are recorded, transcribed, and numbered. The conversation is usually conducted at the entrepreneur's business premises. The surveyed persons answer the open-ended questions, allowing for lengthy, free¬form responses. Findings: Succession is an important stage in the development of a company. It should be noted that it depends on the conditions found on the side of informal and formal institutions. Taking this into consideration, the analysis of changes in legal regulations significantly influences the explanation of their causal power in terms of stimulating and protecting entrepreneurship and ensuring the safe continuity of the company in the long timeframe. On the other hand, custom and tradition, which are individual characteristics of the managing family, are enormously important for the longevity of these firms. Originality/value: Entrepreneurs who started their businesses in the nineties have, over time, matured into a generational change. Succession is an important stage in the development of a company. It is accompanied by emotions both on the part of the senior and the junior, the future successor. The choice of a company's succession path depends on the mission and values adopted in the organization, the culture of the organization, the strength of family ties, and therefore on intangible and symbolic elements. Discovering the emotions of an entrepreneur who decides on succession allows for new cognitive paths in economics.
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