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?

#people #business

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It is true that family-run businesses have never stopped gaining in popularity around the world.

Although

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this

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model is applauded by many experts, there still

exists

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many limitations. On the one hand, there are a number of advantages of a family-run

business

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First,

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since the

business

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is operated and overseen by family

members

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such

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as children and wife, or relatives, it is difficult for any outside parties to steal away the control of the

business

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This

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means that the family has

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absolute power and control over strategic decisions, staffing, or payroll, which will certainly be of great benefit to all family

members

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Second,

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since family-run businesses are private corporations, they are not subject to complex financial reporting requirements. As a result, the

business

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can save a great deal of money on hiring a team of professional accountants to prepare external reports and deal with government stakeholders.

On the other hand

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, family-run businesses are not without downsides.

First,

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business

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-related conflicts among family

members

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have the potential to sabotage any family relationships.

For example

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, a dispute over either

business

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ownership or salaries might lead to a quarrel or even an avoidable family estrangement.

Second,

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non-family employees working for a family-run

business

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might view

this

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business

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practice as unfair towards them.

For instance

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, even if they perform exceptionally well and make enormous contributions to the company, chances are they will not be recognized enough compared to those who are family

members

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. In conclusion, given the clear advantages a family-run

business

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have

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, there are still limitations. By acknowledging these limitations, the

business

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owner can find ways to dodge them.

Submitted by 1973 chau on Wed Jul 22 2020

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Structure your answers in logical paragraphs

The easiest way to score well on the IELTS Task 2 writing portion is to structure your writing in a solid essay format.

A strong argument essay structure can be split up into 4 paragraphs, each containing 4 sentences (except the conclusion paragraph, which only contains 3 sentences).

Stick to this essay structure:

Paragraph 1 - Introduction
Paragraph 2 - First supporting paragraph
Paragraph 3 - Second supporting paragraph
Paragraph 4 - Conclusion

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8
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meeting the goal of 7 or more
2
Word repetition
meeting the goal of 3 or fewer
3
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 4.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 6.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 6.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 4.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

1 paragraphs

266 words

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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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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?

Structure your answers in logical paragraphs

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