Some people think that the best way to run a business is within the family. What are the advantages and disadvantages of a family run business?

Some people believe that running a
business
with family members has a positive impact on it.
However
, others believe that it can
also
lead to some negatives.
This
essay will talk about the benefits and drawbacks of a family run
business
.
To begin
with the disadvantages, the main negative of the family running a
business
is that people who are working with family members can feel less responsibility than working without their family. Unconsciously, people feel comfortable when they are working with their family members, regardless of their
business
.
This
is because a family is the basic and the
first
boundary of human relationships. It means that family members are the closest people in the world.
However
, unfortunately, these relationships can have a negative impact on the
business
partnership, due to make people easily forget their duties in the
business
. In fact, according to the recent survey
from
Suggestion
of
New Zealand Post, self-employed people who have been working within the family answered the responsibility is the most necessary element in the family
business
.
On the other hand
, even though the family-run
business
can give some drawbacks, it is undeniable that there are tremendous benefits to it.
First
of all, a family
business
leads to stronger family bonding. The reason is that they should compromise while working together.
Also
, they need to chat a lot about improving their
business
.
This
process helps them believe and rely on each other.
Secondly
,
This
sort of
business
forms can manage time efficiently. They can freely change their shifts depends on each plan. It will reduce the dissatisfaction of working in the long term. In conclusion, as the pros and cons of a family run
business
show above, it is true that working within the family can bring both positives and negatives.
However
, it seems to me that the advantages outweigh the disadvantages.
Submitted by HyebinYoo  on

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Topic Vocabulary:
  • loyalty
  • trust
  • communication
  • generational knowledge
  • long-term outlook
  • family traditions
  • stability
  • cost-effective
  • flexible payment arrangements
  • conflict
  • tensions
  • roles
  • diversity
  • external perspectives
  • innovation
  • adaptation
  • succession planning
  • instability
  • leadership
  • ownership
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