In many countries, it is common for families to own and run their own businesses. some people think this is the best way to run a business, while others consider this a potential source of problems. What is your opinion?

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Family-owned
businesses
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are quite common in some countries. Some people think that they have higher chances of success,
while
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others believe that they are more likely to run into trouble. In my opinion, family
businesses
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have some inherent
advantages
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.
However
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, disagreements between family
members
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can lead to the disintegration of
such
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entities. The biggest advantage that family
businesses
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have over other
businesses
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is that in a family-owned
business
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, people are working for themselves.
This
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itself is a great factor that contributes to the success of a
business
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. People tend to work harder when they work for themselves.
Also
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when someone works for a family-owned
business
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, they have the support and encouragement of their family
members
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.
In addition
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, children born in
business
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families learn the tricks of the trade from their childhood itself from their parents and grandparents.
This
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exposure gives them a head start when they start their career and enables them to run the
business
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more efficiently.
Also
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working with family
members
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for the common benefit of the whole family can be both fun and rewarding. In short, a family-owned
business
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has many
advantages
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that a regular establishment lacks. On the flip side, some of the
advantages
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of a family-run
business
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can turn out to be disadvantages if the
members
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of the family are not careful.
For example
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, younger family
members
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are more likely to be irresponsible and immature. If they regularly turn up late for work or take too many holidays, it can lead to disagreements.
Also
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, when someone works under their father or sibling, they are more likely to show a lack of seriousness. Unfortunately,
this
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will hurt the prospect of the entire
business
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.
In addition
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, disputes between family
members
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and ego clashes will run a family-owned
business
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into trouble.
To conclude
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, after analysing both sides of the argument it is not hard to see that family-owned
businesses
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have several
advantages
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over other types of establishments.
However
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, families that run their own
businesses
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must ensure that disagreements between family
members
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are resolved before they turn into a
business
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crisis.
Submitted by panetariyaragini78 on

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Linking words for giving examples:

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Topic Vocabulary:
  • Nepotism
  • Succession
  • Merit-based
  • Diverse perspectives
  • Professional boundaries
  • External stakeholders
  • Adaptability
  • Innovation
  • Loyalty
  • Generational business
  • Personal investment
  • Aligned values
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