Working the Family Business

[Sotherefore]

Working the family business is a good inheritance. To continue family work mean name of the family can not forget for live. Therefore is make a good lay down for coming generation.

We know it is an inheritance, but what if the business your parental are doing is not something you would like to engage on , what do you think should be done because for me I don't even plan of going into the type of business that was established by the family.

 

[Laurentta]

As much as it is good to train children to join the family business at an early age so as to gain experience, it is not advisable to force them into the family business, if they are not interested then they should be left alone and not forced.

 

[Abasiama40]

Yes, it is very good to give children business experience at an early age so that it would grow in them side by side as they move up the ladder in life. This makes them better than their predecessors due to early exposure to business.

 

[Ebro01]

There is this Lebanon company that I worked with some time ago. I noticed that the top whites men are relations and they both gather their efforts to make sure the progress of the company was the first they all have at mind. Private issues were discussed and ironed out amiable. I can tell you working the family business sometimes is the best way to go but in most cases in Africa it turns out the other way out. It's happens too in Africa but very few.

 

[Alexandoy]

Most of the Chinese families that I know have the apprenticeship for their children into their business. However, I have noticed that their kids are in school and are required to earn a diploma. They are also not forced to work in the business when they graduate. That is a good setup that I see because the children have the independence to choose their career.

 

[Hrtbeat]

Definitely yes! It's necessary because one day the parents will step down. Before this time, the child might have learned a lot on how to manage the business

 

[Omotayo]

Sure. If the business is huge and sustainable, as we have seen over the years, a lot of families groom their kids to take over the family business when it is time. I think it is important to groom the kids early.

 

[Shigobad20201]

Since the business belongs to the family, either father or mothers business, there's nothing bad in introducing the business to the children at early stage so that they can learn how to manage the business ,

 

[Kane]

I once worked in a business started by my father. When I joined the business, it was already failing, and I could not help the business from going down. I wish I had started working i the business when my father launched it.

 

[Sotherefore]

Well I never have experience before so I don't really understands much on it. Family business are likely to result in problem if property is not taken. I may not really have the interest depending on the situation.

 

[Shigobad20201]

Working the family business is a good inheritance. To continue family work mean name of the family can not forget for live. Therefore is make a good lay down for coming generation.

Those that inherited their family business are always lucky because their financial challenges are already settled and they don't need to start from the scratch like other people

 

[Matan_z]

Lets say that a father and a mother in a family running a business, their son is employeed as a CEO and he is not running the business as his parents requested him to, then because he is their son they might not even tell him anything and ignore his actions. a family might be too generous and polite to its members and then its business would not be effective and even might get closed in worse cases.

 

[Syldan]

Actually working for the family business is really a very good idea because it gives the children more knowledge and experience on how to handle business even at the younger age.

 

[Sincerem]

It is sad that out educational system is currently giving the children online mathematical and theoritical knowledge but don't enlighten this children about financial literacy. So teaching your children how to manage wealth , make wealth and grow a business is a good approach to making them more independent thinking in terms of money.

 

[zelalem]

Definitely good for the kids because I have no doubt that if the kids get used to working as children, they will have a lot of creativity in the future.

 

[Smiles20]

It is a good thing that you should expose children to business or how to handle finances when they are young but this does not necessarily mean that you should give them responsibility that is crucial.

 

[Syldan]

Working in a family business is really good and that is a form of exposure and that gives the children alot of experience when ever they choose to engage on their own personal business.

 

[Shigobad20201]

You are right , working for a family business most of the time is the best way of learning a lot about business and gaining more experience that will help you in future.

 

[Sotherefore]

Only if the child shows interest in the family business and this is what must be observed because giving the business training to children that won't have the interest to grow the business is just a waste of time.

 

[joy101]

It is not good to force the family's business on children because out if spite they might not really show commitment and it's a fast way to kill the business

It's very good to start with family business when one is small before you can grow up you already understand about business very well, most people that did that early are doing well in their business today.