In Malaysia approximately 90% of the businesses are categorized as small and medium enterprises (SMEs). The majority of these small businesses are family owned and make a significant contribution to Malaysian Gross Domestic Product. The prevalence of small family businesses has positive economic and social benefits in terms of reducing unemployment rates and increasing income and investment. The objective of this paper is to explore what are the values underpinning Malay small family businesses. This will enhance the knowledge of values in this vital context. Findings are based on initial case studies of four Malay small family businesses. Four Malay small family businesses were studied for this paper: a small resort business, a noodle food processing business, a small chocolate factory, and a beauty and cosmetic products business.