By a definition, a family business is a business in which one, two, but often much more, members of one family have a significant ownership interest, together with responsibility commitments towards the business. Family company is not necessarily run by members of one family. It can be owned by unmarried couples or friends. There are [...]
Family Business and its Challenges
Most of small business owners have a plan or at least a thought of expectation that one day their children will join and later continue the family business. Still, it is not that simple. Very often, children are not interested in taking over your business or becoming a part of it. They are attracted to [...]