From the outset of the change of the regime in the Central and Eastern European countries the initiator of this project FAME, Budapest Business School recognised the massive demand the new SMEs would have in the field of education and training in entrepeneurship. Since practical and theoretical experience were not available in the country BBS started bilateral and multipartner projects in order to adapt appropriate curricula taken from countries with long standing experience in SME issues. These projects have been implemented with varied partnerships forming by now a considerable European partner network for BBS. At a second stage BBS moved from adaptation to joint development of courses in more and more refined subject areas overarching SME problematics in all the partner countries. This made BBS one of the protagonists of SME realated trainings in Hungary. In recent projects BBS has followed the perception of the economic importance of SME Family Businesses (FBs) and has carried out research in and curiculum development for the FB sector. For a certain period of time BBS operated its SME projects in the field of vocational trainings (VET) and offered the results in the frame of adult education though proposing some modules as specialisation for regular HE students. Recent research and project experiences pointed out the need to employ stronger measures and mobilise the HE mastery of the school and the partners in order to meet the growing need of the FBs in long term theoretical and practical support. The inception of this demand came up simultaneously at several partner institutions and they immediately expressed their intention to develop a second year of a Master in entrepreneurship focusing on SME FB sustainability issues. They also recognised that this development must be preceded by a more in-depth research and they already started this research off-project, on their own expenses. The main vector of these research works has been identified as pointing from theories worked out for large companies to possible adaptations to SME FBs.The major objective of FAME project is a high level curriculum development underpinned by the results of the mentioned research. The partners could not identify such kind of Masters in Europe elaborated in transnational cooperation of rigorously selected partners with complementary profiles and strong points.Beyond the possibility of double degrees, foreseen after domestic accreditations, the long term objective of the project, two major elements with added value must be mentioned. On one side, in order to ensure easy access for the entrepreneurs refined on-line technology will be applied in the course development and on the other, together with associated partners, an analysis of embedding work-based learning periods in the courses will be elaborated.