All In the Family!

No, this isn’t about the mafia! It’s about having your family members get involved in your business.

It’s interesting that, according to a recent study, more than two thirds of the small business respondants stated that it’s important to them to have family involved in their commercial enterprise!

The study goes on to say that almost 60% of small business owners rely on at least one family member to help operate their business. A majority indicated that help came from their immediate, or nuclear, family; and that over 40% depend on their spouse to keep things going!

Children pitch in to help too to a tune of 16%. Beyond the spouse and children, parents were the next category to help operate a small business.

Small business owners indicated in the study that they could not think of a more qualified person to help them than a family member because the family is hearing or talking about the business on a daily basis if not actually intimately involved it.

Almost a quarter of owners said that they intend to pass along their business to a child or other family member.

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