Abstract
This article undertakes a reflection on the effects of the Mexican crises of 1984-1985 and 1994-1995 for a small group of family enterprises located in Aguascalientes City. I explore the kind of resources, tangible and intangible assets, which were available to their owners during these periods; what kind of support they had access to, and how they responded and adapted to harsh economic conditions. I also analyze the different kinds of actions taken by owners to deal with the crises and how these gave impetus to, or hindered, their business project. I use the concept of social capital to explain the various conditions under which small family firms arose and developed, as well as their possibilities for success in crisis conditions.
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