I do think family owned businesses have more advantages than disadvantages. For businesses ran by family members, the members feel a strong sense of pride for the business and in that regard they are more vested in the positive outcome of the business. Meanwhile if the business has primarly employees running the business, for them it is just a pay-check. The success of failure of the business is not their responsibility. Therefore it may less likely be that a family owned will fail. One may argue however that the family members may not posess the required skill set for a particular job and that may spell disaster for the company. Hence it will be best to outsource the job to more qualified candidates. As true as this may be, the family has the option of choosing a member to be trained to fill specific roles. Another advantage of a family owned business is, the children are exposed to the business from very early in their lives. They are able to experience the inner workings of the c...