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Many business in the world today are run by family members. Do the advantages of family-run business outweigh the disadvantages?

#business #world #members
In many countries around the world, there is an increase in the number of
business
Suggestion
businesses
 manage by family members.
This
 essay will argue that the benefits of family-run
business
 offset the drawbacks, as
such
 an enterprise would create employment opportunities for members of the family and resources can easily be
pool
Suggestion
pooled
 together to ensure the success of the enterprise. On the one hand, one commonly cited disadvantage of the
business
manage
Suggestion
is managed
 by a family is that it has limited expertise.
This
 is because some members of the family who hold key positions may lack the needed skills.
Thus
, the
business
 may
improvise which
Accept comma addition
improvise, which
 is not ideal.
For instance
, a son or a daughter with limited
business
knowledge or
Accept comma addition
knowledge, or
 experience may be employed in an administrative position.
This
 could impair the functionality of the company.
However
, family-run
business
create
Suggestion
creates
 employment opportunities for their members.
Thus
, a person who is part of the family and interested in the
business
 is likely to be offered employment in the company.
For example
, relatives of Mr Alico Dangote, a businessman in Nigeria, are gainfully employed in the family company.
This
 would not have occurred if it had been a public corporation.
Furthermore
, members of a family-run
business
 can pool resources together with ease.
In other words
,
instead
 of seeking loans from financial institutions
such
 as banks, the owners can easily make needed momentary contributions.
As a result
, the
business
 can pull through in the during periods of financial crises. In conclusion,
although
 family-run
business
 may have limited expertise, it would ensure members of a family are gainfully employed and can they can contribute to the success of the
business
. I would argue that
this
 type of
business
have
Suggestion
has
 more advantages today.
Submitted by Kenny on

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Answer the 'Advantages and Disadvantages' topic

IELTS advantages and disadvantages questions normally give you a statement and ask you to comment on the advantages and disadvantages of that statement.

Answer structure for the type of essay

  • Introduction
  • Body paragraph 1 – advantages
  • Body paragraph 2 – disadvantages
  • Conclusion

Examples to start your body paragraph:

  • The main advantage is...
  • The disadvantage of this...
  • The main benefit...
  • Despite these advantages...
  • One possible drawback...

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Topic Vocabulary:
  • trust and loyalty
  • long-term interest
  • benefit future generations
  • efficiency and flexibility
  • common goals
  • reduced costs
  • personal conflicts
  • decision-making paralysis
  • operational challenges
  • lack of professionalism
  • necessary skills
  • succession problems
  • transitioning leadership
  • power struggles
  • disagreements
  • sustainability
  • limited network
  • professional network
  • growth opportunities
  • non-family-run businesses
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