Taking over family business

[Deleted member 403]

There will come a time where your relative will die, and this might happen before your time comes. If your relative was to own a successful business of some kind and he left it to you, would you take over it? Would you need to first take bereavement leave and put the person second in charge in command?

 

[Godspower]

I would handle the business if I consider myself suitable and competent enough to manage it successfully. If I have doubts about my ability, then it is wise to put a better qualified person in charge.

 

[Ub40]

Definitely, there is a time to die. Personally, if I am qualified to handle it and I am capable, and there is no crime connected to it, then I will take over the business and manage it. That is just my opinion. Thanks for sharing.

 

[Seno inyang]

Taking over a family business is more like a generational or hereditary ownership. It's a good thing because such a business can never be left vacant or not operating because most families wouldn't lack a capable hand to run the business when the older ones can no longer run it.

 

[Partisan]

It's always nice to taking over family business when you have the support of the family and also you are innovative and you know how to handle the business because family business can be stressful everybody will want to know what you are doing and want you to be successful

 

[Immilash]

death is inevitable, we humans have a limited time to live ,

if I have the idea to control the business and also make it successful I will take over the business ,but if I don't , it will be better you hire someone who has the experience and qualifications.

 

[Good-Person]

This thread reminds me of a lawyer who had no children and no wife. In the end, he died and his sister also died who used to live with him. Both of them were unmarried. In the end their relatives took over the house which they used to own.

 

[Heatman]

Taking over a family business is something that is very common in our society and it's what's already happening in my family as my father have transferred the running of the business motor spare parts business to my brother and I.

 

[Kubiat-Abasi]

It's not a new trend to take over family business. In my setting, even while the person is alive, he may choose to hand over a family business to any trusted relative. If I were in such position right now as I'm still a student, I'll take up the business and find someone to manage it!

 

[Abigael]

If a person decides to leave his/her successful business to me after their death, then I will definitely take over. But yes, I would first take a bereavement leave. For a person to leave me the business means we were very close. So yeah, I will mourn him/her first.

 

[kayode10]

Its important to take over the business if you don't want some else who is not related to you people to take over the business. Put the people you trust into the key sections of the company to prevent slow down in running of the businesses.

 

[Sotherefore]

Will I even have the time to manage the business ? during then I think possibly I'll be concentrating on my own business. If they are dying I think it is the best they sold out the business except I state it specifically that I will be able to manage it and this can only happen if you have some extra Time to look after the business. I don't really have time to look after a dead man's property.

 

[jay]

Business isn't something that you joke about with because any slight mistake, it's going to cost the business a lot of money and losses. It's why before getting to hand over a business to anyone, make sure they understand how to run the business.

 

[kayode10]

It is good to hold on for a while and watch out for things before you decide to take on to the leadership of the family business. This shouldn't be a problem for you if you have been part of the family business.

 

[Stnicholaz]

I would take over the business if I'm qualified and understand how the business is run. But if it requires me to learn and understand how to be business is run before taking over. The second in command or the highest position will be in charge while I learn from them before taking over.

 

[Mayox25]

If I have such privilege and I am well equipped and competent to run the the business I do so. I will not take bereavement leave because staffs of the company may try and take advantage of the vacuum to perpetrate fraudulent activities.

 

[Niftyyem]

This wouldn't be an easy decision especially for those who share very special relationship with the deceased, however, it would be better to take a little time off so as to pull himself together so as to manage the business successfully.

 

[Heatman]

I would take over the business if I'm qualified and understand how the business is run. But if it requires me to learn and understand how to be business is run before taking over. The second in command or the highest position will be in charge while I learn from them before taking over.

This is why it's very important to undergo some training when it comes to taking over any business or even any positions in any business establishment. It will help you to adapt and adjust to the business well.

 

[Blessedsam60]

The best advise is to take a short bereavement leave and come back to take charge for you to best run the business left behind

 

[joy101]

Handling a family business is not bad if actually the person in position is cable to do that, that is really good idea to run a family business very good.