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

Running a family

business

is becoming very popular among many people around the world. While there

Change the verb form

are

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numerous benefits of establishing a family-run

business

, few drawbacks

also

pull a plug on

this

type of venture in some instances.

This

essay will look into both merits as well as demerits of trades that are maintained by a family. One major positive of a family-owned

business

is that profit does not need to be shared with any other party.

This

results in a greater amount of profit that can be utilised to grow the

business

For example

, there are a number of family farms in Australia which are found to be lasting a significantly longer period of time with substantial profits.

Moreover

, many people trust their family members more than any outsiders which bring the continuation of a venture.

Therefore

, a

business

becomes exponentially profitable

overtime

Correct your spelling

over time

show examples

under consistent ownership.

However

, there are some disadvantages of

this

which cannot be underestimated. A trade

that is

solely operated by like-minded family people often lacks innovation. The

business

model becomes monotonous and in many cases, may lead to termination due to

this

reason. Most consumers nowadays are very aware of the products.

As a result

, the

business

needs to be on its toes with intellectual advancement which could be missing with the same approach of trading under family ownership. In conclusion, despite some drawbacks of a family-maintained venture, mostly it brings consistency as well as a greater sense of trust and income.

Submitted by mhssumon01 on Sat Sep 18 2021

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8Linking words
meeting the goal of 7 or more
1Word repetition
meeting the goal of 3 or fewer
2Grammar mistakes
 

4 paragraphs

247 words

0123456789.0505

Overall Band Score

Coherence and Cohesion: 9.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 7.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 7.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 5.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

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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?

Your opinion

Essentional vocabulary list for IELTS Writing 7+

Scientists have been warning for many years that to protect the environment, we have to limit the use of energy in a daily lives. Despite warning many people do not attention to this. What are the reasons for this and how can people be encouraged to save the environment?

In many countries nowadays, consumers can go to a supermarket and buy food produced all over the world. Do you think this is a positive or negative development?

Many parents choose to teach their children at home instead of sending them to school. Do you think the benefits of homeschooling outweigh its drawbacks?