Share
Explore BrainMass

Business Development and Owning a Family Business

What challenges do you think an owner of a family business might face daily and long term?
What challenges do you think a non family member employee of a family business might face daily and long term?
What challenges would you face if you went into business with your spouse, boyfriend or girlfriend?
What decision would you work through, regarding whether or not to leave your family business to one of your children interested and involved in the business, given that this child does not have the skills to run it.

Solution Preview

1. The owner of a family business may face daily challenges such as managing the business, attracting customers, collecting payments from customers, getting supplies and managing his own time. In the long term he will face challenges of getting finance for expansion, having difficulties in expanding the business, and in growing his business beyond a point.
2. The non family member employee of a family business might face challenges such as low salaries, few benefits, regular requests for spending ...

Solution Summary

The response provides you challenges that confront a family business. It also gives you four relevant references.

$2.19