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Families to own and run their own businesses


You should spend about 40 minutes on this task.

Present a written argument or case to an educated reader with no specialist knowledge.

Write about the following topic:

In many countries, it is common for families to own and run their own businesses. Some people think this is the best way to run a business, while others consider this a potential source of problems.

Discuss both these views and give your own opinion.

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Sample Answer:

In many countries around the world, it is a common practice for families to own and operate their own businesses. This can be seen as a positive way to run a business by some, while others believe it can lead to potential problems.

Those who support the idea of family-owned businesses argue that it allows for a strong sense of unity and shared values within the company. Family members often have a deep understanding of each other’s strengths and weaknesses, which can lead to effective teamwork and decision-making. Additionally, there is a sense of trust and loyalty among family members that may not be present in businesses run by non-related individuals. This can create a more stable and harmonious work environment, which is conducive to productivity and success.

On the other hand, critics of family-owned businesses argue that they can be a source of problems. They believe that nepotism and favoritism may be prevalent, leading to unfair treatment of non-family employees. Additionally, family conflicts and personal issues can spill over into the business, causing disruptions and hindering progress. Moreover, the lack of professional management and decision-making processes may lead to inefficiency and poor business practices.

In my opinion, while there are potential drawbacks to family-owned businesses, the benefits often outweigh the risks. The strong sense of unity and shared values within a family-owned business can foster a positive work environment and a strong sense of loyalty among employees. However, it is important for family-owned businesses to establish clear and fair policies to prevent nepotism and favoritism, and to ensure that professional management practices are in place.

In conclusion, while family-owned businesses may pose some potential problems, the benefits of unity, trust, and loyalty often make them an effective and successful way to run a business. With the right policies and practices in place, family-owned businesses can thrive and contribute positively to the economy.

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