In many countries around the world it is common for families to run their own business. some people think that keeping the business within the family is the best approach while other believe this could lead to problems. What is your opinion?

Some people may argue can help to improve profitability, whilst others may claim that it is a way of creating tension and squabbles between family members.
However
, I believe keeping a
business
within a family causes more problems than it does opportunities, which I will substantiate in
this
essay. On one hand, some people may argue that keeping the
business
within a family, helps to create a sense of ownership, thereby elevating their status in society.
In addition
, a well-run
business
will become profitable which led to a prosperous life for a family. It can
also
lead to a sense of pride, as there are no structured working hours, and the owners are not answerable to anyone. Alternately, the problem
this
possess, is that sometimes the parents expect their
children
to take up the
business
when they get older, but the
children
have their dreams for their future. On other occasions, the
children
may lack the work ethic and
business
skills to continue a
business
at a profitable level.
Furthermore
, if a family has more siblings, there may be difficulties that may arise amongst each other on how to run the
business
., which in turn could lead to the downfall of the
business
. In conclusion, I feel that once parents have spent their lives taking care of a family
business
and once, they have reached their retirement age, they should consider selling it, as most
children
have their versions of how their lives should be.
However
, the family needs to be open and honest with each other on their hopes and wishes.
Submitted by Nigelvictorlawrence on

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