Band 6+: In many countries, it is common for families to own and run their own business. Some people think this is the best way to run a business, while others consider this a potential source of problems. What is your opinion?

It is widespread in some countries to run family businesses. This type of business has both advantages and disadvantages. Some people believe that the benefits outweigh the disadvantages ,while others think that the possible risks do not worth its profits.This essay will discuss these two opposite points of view and my opinion will be presented.

The majority of companies,which were founded centuries ago, carry family names. This means they were created by a family and continued to run by their descendants. Moreover, some new companies are being run by family members. These businesses are more trustful in customer’s eyes because the owners are trying to develop their business without loosing its traditions. For instance, the owners of Rolex always highlight their history and even their products reflect it. Moreover, Rolex never change materials in order to save money because they appreciate their grandparents labour. In terms of companies that opened later, these businesses are owned by a family can effectively grow because every member work harder to develop their creation. In short, companies involved by a family carry advantages for both old and new companies.

However, there are several disadvantages caused by difficult relationships between family members. The key issue that might arise is misunderstandings between owners so that there is no clear hierarchy. This means the company is run by different people without a particular role that can regulate these conflicts. Moreover, these people have different opinions about how to run this business. For instance, a small supermarket owned by several family members faces crises due to conflicts between these owners. Another issue also relates to difficulties in relationship between family members. In particular, some people might ignore their responsibilities because they know they relatives cannot punish them. Consequently, it can lead to ineffective work and to shift their responsibilities to others. In brief, it is evident that the business where the runners are relatives might be not effective because of some problems between the owners.

To conclude, many businesses are run by a family. It has both advantages and drawbacks. I think that family businesses can be developed but the relationship between family members should be very close. Otherwise, it can damage not only the business but also the relationships.