Usually, if your son and daughter pursued a course on college that has nothing to do with the business, they're not going to continue the business. They're going to continue the course that they finished.kat82 wrote:But now about many not wanting to continue such means serious problems.
True, who is running and willing to run the business including how he or she runs it matters most. I get you clear.eldavis wrote:At the end of the day, it does not matter if it is family based or not, it mostly depends on who is running it.
It depends on their children. For example, if they own a restaurant and one of their son or daughter is passionate about cooking, the restaurant will live on. But if their son is an engineer and their daughter is a doctor, rest in peace to the business.kat82 wrote:Looks like family ran businesses survive because the real owners are running them. But when old age kicks in and owners are no longer able to work, then chances of survival looks low. Differences in ways of how to live and other I think affect this.
True. And also the location can matter where the business is. If son or daughter lives in town and the business is in village, another RIP.Netherrealmer wrote:It depends on their children. For example, if they own a restaurant and one of their son or daughter is passionate about cooking, the restaurant will live on. But if their son is an engineer and their daughter is a doctor, rest in peace to the business.kat82 wrote:Looks like family ran businesses survive because the real owners are running them. But when old age kicks in and owners are no longer able to work, then chances of survival looks low. Differences in ways of how to live and other I think affect this.
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