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

Running a family

business

where members of the family take different parts and work together to achieve something, is not an easy task and not everyone can do it, it takes commitment and dedication and people need to harness a

lot

of time for it to be successful.

Furthermore

, a family

business

is a pretty common

business

model that a

lot

of people take and some of them even run the

business

from the comfort of their own homes where they would live upstairs and the shop downstairs and they would take turns on who would attend to the shop and when.

Moreover

, when it comes to the advantages of course they would trust each other more and there would be less conflict and everyone would understand each other and know what to expect,

also

it can be more efficient to run from inside the family; you would save a

lot

of money than having to buy a new property and paying a

lot

of expenses to be able to run it in the normal way.

On the other hand

, different issues may arise

for example

who gets to keep the profits and how do they divide it and based on what

this

might create conflict between family members and turn into a big problem if not handled in the right way,

also

if everyone is from inside the family they may feel a little more comfortable in the workplace and do not take their jobs seriously. In conclusion, running a family

business

is a good

business

model and has a

lot

of advantages but at the same time, it will take a

lot

of effort to do it right and avoid the issues we mentioned.