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

It is considered that to start a new
business
, different type of professionals required. Some people believe that
business
must be managed by family only, while others are in favour of hiring skilful people to work for their
business
.
This
essay will discuss both pros and cons of the statement. On the one ,hand the benefits of running a
business
by the family are trust and easy availability of workforce required for every trade. Because it's really difficult to hire a new trustworthy intelligent community and taking risk of giving
business
in their hands. For ,instance a
business
like shops can be run by the family without any special team and it's worth taking the risk when a
business
is managed by own reliable family member,
Moreover
no interview process required and it saves plenty of time and energy. on the other ,hand there are many advantages of having well educated and experienced people.
business
grow exponentially if it handled by the proper management team.
Although
it requires a lot of investment to build a team,
that is
compulsory in many scenarios.
for example
to start an IT company a technical and management teams are essential
otherwise
this
type of
business
can't be run by the family. In ,addition it's not obvious that every person in the family has technical skills. In conclusion, many argue that businesses must be run by safe hands while others do not agree to start a
business
without a proper protocol.
Submitted by Shreya on

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