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?

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Entrepreneurship is believed to be the major driver of the economic performance of a country, and some hold the perspective that entrepreneurial agents are best nurtured through family-run companies. I personally think that young entrepreneurs should not rely excessively on family support.

This

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essay will delve

further

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into the reasoning behind my take. On one hand, it is undeniable that running a family-owned business is more fun and manageable.

In other words

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, it is always easier to collaborate and discuss ideas with our relatives in deciding which course of action to pursue higher revenues because the management has always known each other for so long.

In addition

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, those working for the companies have greater opportunity to develop bond among them,

hence

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beneficial for their personal life.

On the other hand

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however

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, there are some drawbacks worth considering.

Firstly

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, family-run businesses have always been criticized for being less professional.

For example

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, most of their businesses never make it to the top. Even so, the businesses are mostly short-lived and prone to bankrupt within a generation or two, because more often than not, they tend to rely heavily on the specific figures and fail to nurture a solid organization within.

Secondly

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, there are tons of examples showing that as

such

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companies fail, so are their family. For

this

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reason, some people think that it is important to separate work from personal life. To conclude,

although

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it may be tempting to run a business with our relatives, there are some drawbacks that easily outweigh the benefits.

Hence

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, it is always better for a young entrepreneur to strive for a more professional start.

Submitted by wildan0503 on Sat Oct 30 2021

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12
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meeting the goal of 7 or more
0
Word repetition
meeting the goal of 3 or fewer
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Overall Band Score

Coherence and Cohesion: 7.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 9.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 8.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

269 words

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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?

Being a celebrity– such as a film star or singer – brings problems as well as benefits. Do you think that being a celebrity brings more benefits or more problems?

countries should produce food beyond all the population eats without importing, agree or disagree

Some people think that parents should teach their children how to be good members of society. Others, however, believe that school is the best place to learn this. Discuss both views and give your own opinion.

It is important for people to take risks, both in their professional lives and their personal lives. Do you think the advantages of taking risk outweigh the disadvantages?

Some people think that public libraries are no longer necessary, while others believe that public libraries still perform useful functions.Discuss both views and give your opinion.