Innovations are essential for the survival of companies, but they also come with high risks. The critical factor for success is particularly the use of information at the beginning of the innovation process. The author examines the use of information in family businesses (FB) and non-family businesses (NFB) during the early phase of the innovation process. Here, a stronger risk aversion is evident in FB, accompanied by a long-term orientation, as well as significant differences in the relevance of structured processes. Additionally, strategy plays a different role: in FB, it serves as a guiding principle, while in NFB, it is the only direction to pursue. The insights gained provide concrete opportunities for both FB and NFB to improve their competitiveness.