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Family Enterprise

Family Enterprise
Harkerat Brar
Robertson College
Family Enterprise
The number one difference from a family business and a non-family business
is the relationship among others, more specifically a family unit that is involved with
business and with each other as co-workers. Also, can be a case of majority of the
family members not fully owning or not having the majority part of a business or a
company. They both still are businesses with leaders and goals to achieve as per there
One of the pros of a family ran business is having stability, meaning that its
since ran by family members there will a higher chance of longevity for each
individual roles because of having family ties that bond them together and to avoid
any internal conflict among a family.
Second will be the commitment that each family member/worker bring to the
table, as each individual holding accountability to a high regard that is because of the
sense of helping family and seeing your own succeed or even just to stay afloat.
Third pro in a family ran business will be the ability for family
members/workers to be flexible in different aspects of a business and being able to
handle different roles whenever it may need be since there wouldn’t be anyone else
trying fill that role that is needed ASAP. Family makes sacrifices for each other, and
knowing how important it is have the business running even though some couldn’t
make it but that requires a family member to take that sacrifice without any thought
and ability to decline.
The cons for a family ran business can be felt and seen in many ways
including interpersonal family problems that also impacts the business, this can be
shown when a family member lacks interest or support.
Also having a family disagreement which can throw off a lot of
communication that is needed in a well-functioning business
The 3rd con will be the frequency of bias among family ran business, the
situation of favouriting a family member in any situation can throw off the chemistry
made among co – workers and the family member/worker. Where a family member
gets promoted higher than the person who would fit the role and responsibility of the
1. Athwal, R. (n.d.). The advantages and disadvantages of a family business. SME
business guides. Retrieved April 4, 2022, from https://blog.vistage.co.uk/advantagesdisadvantages-of-a-family-business
2. Citeseerx.ist.psu.edu. (n.d.). Retrieved April 4, 2022, from