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

Nowadays, the young generation has become more passionate to start their own new industry with the friends. Some people opine that, doing employment with the family members is a good idea

instead

of doing with others.

This

trend has its own merits and demerits. In

this

essay, I have shaded some light on the benefits and drawbacks of the family

business

. To commence with, the main advantage of the family

business

is not only the trust, but

also

loyalty, security and comfort.

Moreover

, the amount of the profit and loss are equally shared between the members of the family,

that is

the reason, it is not hard to run the employment.

Furthermore

, they can grow better together and can achieve good fame in the world and build a strong foundation in the market.

For example

, Dhirubhai and Mukesh Ambani have a common

business

name as 'Ambani brothers'.

On the other hand

, there are drawbacks as a part of a family job.

Firstly

, there might be ego related issues between brothers, which ultimately creates dispute and ruin the family.

Secondly

, they might face inequality in terms of respect, money, work responsibilities and sharing.

Thirdly

, it sometimes risky, when one partner does the murder of the other to become an owner of the company or in jealousy.

For instance

, 5% of the family murder cases are due to be a part of the same field.

Finally

, not all of the family members specially youngsters are willing to join the trade, in

this

case if they join, they do not put efforts for the betterment of the company, which is detrimental to the growth and reputation of the company. To conclude, the family

business

has many advantages

such

as sharing, rise, trust and loyalty only when everyone as a part of an employment should work for the growth of the family as a team without developing jealousy and inequalities.