Today, family businesses are the backbone of economic activity, both in developed and developing countries. Like other businesses, family businesses face increasing challenges on a daily basis for their growth and survival in the marketplace, and their success is shaped by a range of trends and responses to those trends. Given the importance of family businesses for overall economic growth and development, as well as the importance of responding to trends that define and shape the business success of family businesses in the 21st century, the use of secondary data sources in this final paper provides answers to questions. how family businesses differ from other businesses and how to respond to market demands and socio-demographic trends affecting the creation, growth and development of businesses and the emergence of new business opportunities for family businesses. The growth of a family business should be an imperative for all family members, and it is therefore important to understand how the structure of the family, its culture and priorities regarding the management and inheritance of the business are reflected in its growth. Given the trends recognized and defined by the literature, the concluding remarks, and recommendations for practice in this final paper are directed towards different developmental stages of a family business - creation, growth and development and the emergence of new business opportunities. As the identified trends are reflected in family businesses, but also other stakeholders related to them, a proposal of response to the identified trends by different stakeholders is offered. Only through the joint efforts of different stakeholders is it possible to maintain the continuity of family businesses through generations and strengthen their competitive advantages in the market.