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

Nowadays, My personal experience has shown that, even if there are pros and cons, small family businesses are usually more profitable. The

first

advantage that makes me believe in relatives running shops and services is the existence of reliability and trust between people. My parents own a bakery with my two brothers, and it is easy to carry out plans or deal with all kinds of issues. When they had to decide if they would expand or not the shop, it was simply because they talk about it at the dinner.

On the other hand

, working with brothers, sons or parents might not be sometimes as simple as it appears. Since all families have personal questions unsolved, sometimes these situations could bother the enterprise management. I remember,

for instance

, when my parents should have fired my brother who decided to have a year break, but they did not, just because he was their son.

This

decision reduced the income that year. To summarize,

although

there are benefits to professional administration, the disadvantages far outweigh the advantages. Not only because it is easier to run a family company, but

also

because it enhances the bonds between relatives.