Do you carry your family's business?

[rubesh]

This is a common concern when it comes to carrying on their family's company.It might be a difficult decision, but there are several aspects to take into account.


Some may be enthusiastic about taking up the business, while others may feel compelled to carry on the family tradition.When making a decision, it is critical to consider both the advantages and negatives.


Do you have enough time and resources to keep the company running?Can you commit to the company's long-term growth?Can you keep a lucrative business model going?


If you intend to continue the business, you should consider updating it and adding new goods or services.This can assist to attract new customers and increase income.

 

[SHAHID987]

I am not willing to carry my family business because it could be hurt my self esteem, although I have opportunity to do so.

 

[riberet19]

Not really, although I did work for a while in a family business, I think I'd rather be out of it for me

 

[cherry123]

I would have liked to carry on with the family business if we had one. but I will have family business in future.

 

[Shavkat]

Our family business was closed when my parents decided to do so. It happened more than a decade now. The drastic decision was done because the clients cannot afford the high VAT at that time.

 

[rubesh]

I am not willing to carry my family business because it could be hurt my self esteem, although I have opportunity to do so.

what was your family business?

Post automatically merged: Jan 21, 2023

I would have liked to carry on with the family business if we had one. but I will have family business in future.

All the best for your future business

 

[IB D]

I have been one person that has not been interested in inheritance right from a young age. If my parents had a business, I would not take over. Highest I can do is to give advice on how it should be run.

 

[cherry123]

I like to do a family business that isn't under dispute because a lot of family business comes with a lot of issues that I never want to be involved

 

[Yohanna]

There is nothing wrong in taking up a family business and putting it at the top in terms of good management.

 

[uptrendfinancialsignal]

Getting involved in family business good because it will make your business grow.

 

[Heatman]

I am not willing to carry my family business because it could be hurt my self esteem, although I have opportunity to do so.

My family business is something that's been holding up my family for years. My brother is heading the business now and he's doing well.

 

[Sanjeev]

I didn't have a family business, my father was a government job employee, if he had a business I would have continued the same business.

 

[Bisolami]

I am not willing to carry my family business because it could be hurt my self esteem, although I have opportunity to do so.

Same here
I will rather decide to build my business on my own than to carry family business.

 

[eldavis]

I most cases, most of these children actually have different dreams and goals but they have been tied down to running the family business that does not in any way relate to what they really want to do.

 

[Bisolami]

I most cases, most of these children actually have different dreams and goals but they have been tied down to running the family business that does not in any way relate to what they really want to do.

I have seen so many movies like this. I wonder why some parents find it hard to let their children do what they want to do.

 

[Sanjeev]

@Bisolami you can also think of extending your family business. Why do you think of starting your own business

 

[Niyi Briggs]

@Bisolami you can also think of extending your family business. Why do you think of starting your own business

Family business always has lots of issues that occur especially when other siblings also have interests. It is better you have your own business.

 

[Starmix]

We had a family business before but no-one took over, so my dad sold it. I now owned s business not inherited but acquired through franchising.

 

[Elendu]

Yeah I think this is a good topic you raised in handling a family business communication is key to a successful business, but it is especially important in a family business where emotions can run high regular meetings and open communication can help ensure that everyone is on the same page

 

[Sanjeev]

@Niyi Briggs yes it becomes the root cause of disputes among the siblings but they need to divide it and should try to continue it as a partner, I have seen lots of people doing it here.