Running a family owned business is never a walk in the park. There is always so much to sacrifice and as many mistakes to deal with quite often. What is worrying is that a large percentage of these businesses do not make to survive long enough to the succeeding generation. To succeed with a family business, assessing the role players’ strengths and goal setting among other things are some of the considerations that are inevitable.
Getting into business with your loved ones might sound like a dicey proposition, particularly when you look at the statistics. Roughly 70 percent of family-run businesses don't make it to the next generation.