Numerous articles in academic publications have been examining the relationship between planning process and performance. However, the obtained findings are controversial. Even less research has been conducted for family businesses. In contrast to already conducted studies this work will explore the following research questions in a context of transition economy and taking the Ukraine as an example. This research is aiming to explore planning processes that are employed by Ukrainian family-owned firms, and its relationship to profit and growth rate. In addition, such categories as age and size will be tested in order to investigate their relationship with profit growth and employed planning processes. Compared to prior research, more complex methods were applied in order to investigate the above aims along with providing valuable information for the body of knowledge
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