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

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Some individuals opine that the best method to carry out trade is with the family.
This
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essay discusses the merits of co-operation and support for the success of the family-run business by all members and important skills learned by younger representatives, including the disadvantages of
this
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trend. To begin with, the merits of running a family trade is that, we can trust all the employees blindly, as they are our family .
Additionally
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, all members will put their efforts for the success of it.
For instance
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, a family-run Ecommerce organisation named grocerybuy.com is being run by a family in India, which has a turnover of about 30 million rupees.
Furthermore
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, in
such
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businesses, all family representatives face together the ups and downs in the market and do not lose hope and overcome
such
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tensed situations easily.
Besides
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, the younger generation in the family can
also
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learn management skill and can be ready to take over the family endeavour in the future. Despite the advantages , there are certain demerits .
Firstly
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, there are certain family-run businesses, where younger family members do not enjoy their family-run work , they lose interest in
such
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business and they start performing badly, which results in the company facing financial losses. Sometimes there occur clashes between the strategies and ideas of some family representatives, which creates a huge dilemma for the employees and workers to carry out their task.
For example
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, recently the famous airline company which is being run by father and son duo has seen a great loss in the trade and sold their company to overcome losses. In conclusion, the advantages of family commerce are better co-operation and unity to achieve success in their work and the disadvantages like incapability of younger family representative in certain situations.
Hence
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, the advantages of running a family business overshadow the disadvantages.
Submitted by mohdali9339 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:
  • 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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