Some people prefer to work for themselves or own a business, others prefer to work for an employer. Would you rather be self-employed, work for someone else, or own a business

some people think that the best way to run a business is within the family. What are tge advantages and disadvantages of a family run business?
These days, there is an ongoing debate amongst people about running a
business
within the family. While there are a lot of people who refrain from doing
business
with family, in my opinion, the advantages of doing
business
with family outweigh the disadvantages. In
this
essay, I shall discuss the advantages and disadvantages of a family run
business
. There are several reasons why the family-run
business
is advantageous. One of them is the level of faith you can put in your own family member is much more than in an outsider. Another advantage is flexibility.
For example
, one can easily take sick leaves, vacations or an off from work whenever they want.
Also
, the wealth and profits derived from the
business
will ultimately be within the family.
This
will provide for secure income for future generations. Another reason to be considered is that the skills and talent of family members can be used as an asset to the
business
instead
of outsourcing or employing professionals. There are several disadvantages
of
running a
business
with family.
Firstly
, there is no equal profit sharing ratio among all members.
Secondly
, a difference of opinion on professional grounds may result in a dispute and hamper personal relations.
Also
, risk-taking strategies vary from person to person. It should
also
be taken into account that we cannot hold one person accountable in terms of loss. in conclusion, while there are strong arguments on both sides of the case, my personal opinion is that the best way to run a
business
is within the family as it is easy to trust the members and there is a secured income for future generations.