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.

 

[kit_hung]

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.

not every family business is run well but many have heart in it. People know the family name is on the line so they play with their minds and souls. There is true accountability because everyone knows that if they destroy it, they are burning the name of all.

But there are also other dramas within the family that can destroy the business. Ego and conflicts entering are bad. But if the family has unity and one vision, the business can grow badly. The heart of the family mixed with discipline is the formula for success.

 

[Min George]

The survival of a family business is dependent on the interest and commitment of the family members in sustaining the business.

 

[Fidelia]

If the people in the family are level headed and can take good business decisions, family businesses can thrive.

 

[Augusta]

Yeah, The community focus can lead to positive brand perception and customer loyalty.

 

[Nomad]

A family business that is already making profits has higher chance of survival compared to a newly established business.

 

[Springtime]

Any business, regardless of whether it is a family business, can survive for a long time if it is making profits.

 

[Stardom22]

It really depends on the policies made by the given family running the businesses. In normal circumstances when family businesses are well managed, they have the potential to stay alive for so long.

 

[King Belieal]

As long as the family is united, it is very easy for a family business to survive. It is majorly family squabbles that make family businesses to fail.

 

[Stardom22]

I have realised that making a successful business is not that easy. However when a family business is built in a very rigid and well planned laid down procedures, they can really thrive for success.

 

[Kera]

Family Businesses face the same challenges that every other business. Carrying one person along is not easy in a family business.

 

[Augusta]

I think it is all about how one runs it. It is not about if it is a family business or not.

 

[kit_hung]

If the people in the family are level headed and can take good business decisions, family businesses can thrive.

You are absolutely right, a family business, if run by your people with sound minds and clear decisions, can survive and grow very well. It is like a field planted by a well-organized farmer. Fruits must come without drama. If anger and arguments start to enter, it will be ruined. But if everyone knows the direction and respects the decisions, then the business will grow like a tree with strong roots.