Does a family business have more chances to survive for a long time?

[Min George]

I have come to observe that family businessss always seem to last longer. Most of the businesses that have survived for up to ten years and more are family businesses. Do you also think that businesses ran by families have more chances of survival?

 

[Sanjeev]

I don't think so. The businesses survive when there is enough business.

 

[King Belieal]

Family businesses are always ran more conscientiously than private businesses. And there are also checks by every other member of the family that gives it a high chance to succeed.

 

[eLdavis]

It does not really matter if it's the family running the business or not, shat matters most is the character of the people running the business.

 

[Augusta]

Strong ties to the community can build trust and loyalty, which supports the business's resilience through economic fluctuations.