Importance Of Family When Forming A Business

By Author: Elizabeth Miranda
Total Articles: 26
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It might seem an outmoded viewpoint, when we think of a family business we perhaps have images of cottage industries and a Waltons style group of people running it.
But, there are other ways in which family can feature in our working lives and many modern day industries that lend themselves to being family concerns. A lot of restaurants are family run concerns and the importance of having family support and a ready-made workforce are not be overlooked.
The same applies to any business really, especially those which can be operated from a home base. By nature, the family is already involved, as the business is part of the daily mechanics of the home they live in.
These days it's not unusual for couples to work together or for other family members, offspring, to join them in business as they come of age.
They say that people care more, and work harder, for their own businesses than they do for others. Whether this is true or not is subject to debate, but there's certainly no denying that family involvement in a business has a built in loyalty and generally a ‘feel' for the business as it is so ...
... intrinsically woven into their lifestyle:

Family members in business together share common values - and are more likely to have the same beliefs about how matters of business should be dealt with. This affords the business and those working it a very specific sense of direction and pride - which can only be a good thing in terms of the effect it has on productivity.

Commitment - building a strong family-run enterprise inspires members to apply a more dedicated approach to work and willingly make any extra effort needed to ensure its success. In addition, family members can work together to accommodate one another with a view to making sure every one works the hours they wish to and has a good standard of living and desirable lifestyle.

Business loyalty - personal ties and the strong connection with family means members are more likely to see each other through tougher times and remain dedicated.

Future stability - building for the future generations inspires the sort of projective long-term thinking that is required for advancement and success in business.

So, what sort of businesses can be run from home and would make good family businesses?

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In today's financial climate everyone, be they family groups or individuals, needs to think about businesses that are economical to set up and to run. So count out big concerns that require large premises or expensive specialist equipment.
The money's on consultancy type business and the Internet right now as franchise opportunities with the likes of WSI, the Canadian Internet Solutions Corporation, come in at a very appealing and recession-friendly $49,700. The fee is all inclusive and if a family group were considering it the cost of set up would perhaps be divided between them.
This sort of business, in which consultants help small and medium-sized businesses achieve success through the Internet, lends itself very well to being operated by a family, especially in situations where some members only wish to work part time as the whole concern is flexible and can be honed to suit individual needs.

A WSI consultancy franchise can provide families with the security they felt they lacked with their previous jobs.

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